BB&T Securities LLC Sells 18,361 Shares of HP Inc. (NYSE:HPQ)

BB&T Securities LLC trimmed its stake in shares of HP Inc. (NYSE:HPQ) by 22.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 61,987 shares of the computer maker’s stock after selling 18,361 shares during the quarter. BB&T Securities LLC’s holdings in HP were worth $1,197,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HPQ. Rockland Trust Co. lifted its position in shares of HP by 6.1% during the 2nd quarter. Rockland Trust Co. now owns 198,341 shares of the computer maker’s stock valued at $4,124,000 after acquiring an additional 11,426 shares during the period. WINTON GROUP Ltd raised its holdings in shares of HP by 81.2% during the 2nd quarter. WINTON GROUP Ltd now owns 1,266,125 shares of the computer maker’s stock worth $26,323,000 after buying an additional 567,269 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of HP by 1.1% during the 2nd quarter. Empirical Finance LLC now owns 108,919 shares of the computer maker’s stock worth $2,264,000 after buying an additional 1,236 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in shares of HP during the 2nd quarter worth $479,000. Finally, DAVENPORT & Co LLC acquired a new position in shares of HP during the 2nd quarter worth $235,000. Hedge funds and other institutional investors own 79.84% of the company’s stock.

In other HP news, insider Dion J. Weisler sold 437,171 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $18.01, for a total value of $7,873,449.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Shares of HPQ opened at $19.52 on Friday. HP Inc. has a 12-month low of $15.93 and a 12-month high of $25.49. The business has a 50-day simple moving average of $17.62 and a two-hundred day simple moving average of $19.24. The stock has a market cap of $28.47 billion, a PE ratio of 9.66, a PEG ratio of 3.60 and a beta of 1.41.

HP (NYSE:HPQ) last issued its earnings results on Thursday, August 22nd. The computer maker reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. HP had a negative return on equity of 265.02% and a net margin of 7.18%. The business had revenue of $14.60 billion during the quarter, compared to analysts’ expectations of $14.58 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities analysts forecast that HP Inc. will post 2.21 earnings per share for the current fiscal year.

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A number of equities analysts have recently commented on the company. Wells Fargo & Co raised HP to a “market perform” rating and lowered their price target for the stock from $23.00 to $20.00 in a report on Friday, August 23rd. Loop Capital cut HP from a “buy” rating to a “hold” rating and lowered their price target for the stock from $21.00 to $19.00 in a report on Friday, October 4th. Barclays lowered their price target on HP from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. ValuEngine raised HP from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Credit Suisse Group lowered their price target on HP from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. HP presently has a consensus rating of “Hold” and an average target price of $19.80.

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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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