MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Lowers Holdings in HP Inc. (NYSE:HPQ)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its position in shares of HP Inc. (NYSE:HPQ) by 18.3% in the third quarter, Holdings Channel reports. 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 reporting period.

Other institutional investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new position in HP during the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HP during the second quarter worth about $34,000. Sawyer & Company Inc increased its position in shares of HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after purchasing an additional 900 shares during the last quarter. Rise Advisors LLC raised its stake in HP by 377.9% in the first 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 in the last quarter. Finally, DecisionPoint Financial LLC bought a new stake in HP during the second quarter valued at approximately $43,000. Institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HPQ. 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. Morgan Stanley reduced their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. UBS Group upped their price objective on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Loop Capital decreased their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.55.

HP Price Performance

Shares of NYSE:HPQ opened at $37.01 on Monday. The stock’s 50-day moving average is $34.91 and its 200 day moving average is $33.66. The company has a market cap of $36.22 billion, a PE ratio of 12.50, a P/E/G ratio of 2.67 and a beta of 1.07. HP Inc. has a 1 year low of $25.67 and a 1 year high of $39.52.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The business had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. Analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its board has authorized a share buyback program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is owned by corporate insiders.

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.