B. Metzler seel. Sohn & Co. Holding AG Invests $3.59 Million in HP Inc. (NYSE:HPQ)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in HP Inc. (NYSE:HPQ) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 100,147 shares of the computer maker’s stock, valued at approximately $3,592,000.

Other large investors have also recently bought and sold shares of the company. Wedge Capital Management L L P NC bought a new position in shares of HP in the 2nd quarter valued at approximately $62,672,000. DME Capital Management LP raised its position in shares of HP by 108.7% in the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after purchasing an additional 1,757,070 shares during the period. Primecap Management Co. CA lifted its stake in shares of HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after buying an additional 1,319,731 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of HP by 11.3% during the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock worth $375,079,000 after buying an additional 1,089,848 shares during the period. Finally, Westwood Holdings Group Inc. acquired a new position in HP in the 2nd quarter valued at $38,044,000. 77.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group boosted their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Loop Capital decreased their target price on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. dropped their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday. Barclays cut 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. Finally, Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.45.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the transaction, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by company insiders.

HP Stock Performance

HP stock opened at $36.70 on Thursday. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.52. The firm has a market cap of $35.36 billion, a P/E ratio of 12.88, a P/E/G ratio of 2.51 and a beta of 1.07. The business’s fifty day moving average is $36.17 and its two-hundred day moving average is $35.22.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. During the same period in the prior year, the company earned $0.86 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts predict that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its Board of Directors has initiated a stock repurchase plan 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 plans are usually a sign that the company’s leadership believes its stock is 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.