Clark Estates Inc. NY Sells 7,900 Shares of HP Inc. (NYSE:HPQ)

Clark Estates Inc. NY lowered its holdings in shares of HP Inc. (NYSE:HPQ) by 7.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 98,100 shares of the computer maker’s stock after selling 7,900 shares during the period. Clark Estates Inc. NY’s holdings in HP were worth $3,519,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Chris Bulman Inc acquired a new position in HP during the 2nd quarter worth about $88,000. Principal Financial Group Inc. boosted its holdings in HP by 16.1% in the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after acquiring an additional 160,268 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in HP during the 2nd quarter valued at approximately $621,000. Cetera Investment Advisers raised its holdings in HP by 154.7% during the 1st quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker’s stock worth $3,309,000 after purchasing an additional 66,510 shares during the last quarter. Finally, National Pension Service lifted its position in shares of HP by 24.1% in the 3rd quarter. National Pension Service now owns 2,162,772 shares of the computer maker’s stock worth $77,579,000 after purchasing an additional 419,774 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Loop Capital decreased their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Barclays decreased their price target on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. UBS Group boosted their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley decreased their target price on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. Finally, Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.45.

HP Trading Down 0.6 %

NYSE HPQ opened at $39.08 on Wednesday. The company has a fifty day simple moving average of $36.56 and a 200 day simple moving average of $35.53. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The company has a market cap of $37.66 billion, a P/E ratio of 13.71, a PEG ratio of 2.70 and a beta of 1.07.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. During the same period last year, the company earned $0.90 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has approved a stock buyback program on Wednesday, August 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

HP Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.