HP Inc. (NYSE:HPQ) Shares Sold by Nemes Rush Group LLC

Nemes Rush Group LLC lowered its position in shares of HP Inc. (NYSE:HPQ) by 79.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,642 shares of the computer maker’s stock after selling 14,267 shares during the period. Nemes Rush Group LLC’s holdings in HP were worth $128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sawyer & Company Inc lifted its stake in HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after buying an additional 900 shares during the last quarter. Rise Advisors LLC raised its position in HP by 377.9% in the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in HP during the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HP in the second quarter valued at $34,000. Finally, DecisionPoint Financial LLC purchased a new stake in shares of HP in the second quarter valued at about $43,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Friday. UBS Group increased their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Barclays dropped their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Morgan Stanley reduced their target price on shares of 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, JPMorgan Chase & Co. increased their price target on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, HP presently has a consensus rating of “Hold” and an average target price of $35.55.

HP Trading Down 3.9 %

Shares of HP stock opened at $35.41 on Monday. The company has a 50-day moving average of $34.97 and a two-hundred day moving average of $33.24. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The stock has a market cap of $34.65 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 2.35 and a beta of 1.07.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). The firm had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. On average, sell-side analysts forecast that HP Inc. will post 3.39 EPS for the current fiscal year.

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

HP Company 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.