MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 57,042 Shares of HP Inc. (NYSE:HPQ)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its position in HP Inc. (NYSE:HPQ) by 18.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 254,273 shares of the computer maker’s stock after selling 57,042 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in HP were worth $9,121,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of HPQ. LVW Advisors LLC lifted its stake in shares of HP by 1.2% in the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after purchasing an additional 278 shares during the period. Versant Capital Management Inc increased its holdings in HP by 5.9% in the third quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after purchasing an additional 297 shares in the last quarter. WMG Financial Advisors LLC lifted its stake in HP by 4.2% in the second quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock valued at $274,000 after buying an additional 315 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in shares of HP by 2.9% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 12,296 shares of the computer maker’s stock worth $431,000 after buying an additional 345 shares in the last quarter. Finally, Annex Advisory Services LLC grew its position in shares of HP by 0.4% during the 3rd quarter. Annex Advisory Services LLC now owns 77,829 shares of the computer maker’s stock worth $2,792,000 after buying an additional 347 shares during the period. Institutional investors own 77.53% of the company’s stock.

HP Stock Up 0.7 %

HP stock opened at $37.01 on Monday. The stock has a market cap of $36.22 billion, a P/E ratio of 12.50, a P/E/G ratio of 2.67 and a beta of 1.07. The company’s 50 day moving average price is $34.91 and its two-hundred day moving average price is $33.66. HP Inc. has a 52 week low of $25.67 and a 52 week high of $39.52.

HP (NYSE:HPQ) last posted 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). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. During the same period in the prior year, the firm posted $0.86 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that HP Inc. will post 3.39 EPS for the current year.

HP declared that its Board of Directors has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 3 shares in the company, valued at $99.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on HPQ. Loop Capital dropped their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. increased their price objective on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. UBS Group raised their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Barclays dropped their price target on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.55.

About HP

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.