HP Inc. (NYSE:HPQ) Shares Purchased by Foster & Motley Inc.

Foster & Motley Inc. grew its holdings in shares of HP Inc. (NYSE:HPQ) by 11.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 228,114 shares of the computer maker’s stock after buying an additional 23,977 shares during the period. Foster & Motley Inc.’s holdings in HP were worth $8,182,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of HPQ. Chris Bulman Inc purchased a new position in HP in the second quarter worth approximately $88,000. Swiss National Bank boosted its holdings in HP by 1.4% in the first quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock valued at $85,193,000 after purchasing an additional 37,800 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in HP in the 2nd quarter valued at about $621,000. Cetera Investment Advisers boosted its stake in shares of HP by 154.7% in the 1st quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker’s stock valued at $3,309,000 after buying an additional 66,510 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in HP by 11.4% in the third quarter. State of Alaska Department of Revenue now owns 193,700 shares of the computer maker’s stock worth $6,947,000 after acquiring an additional 19,845 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on HPQ shares. JPMorgan Chase & Co. increased their target price on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Friday, September 27th. Barclays lowered their target price 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. Loop Capital lowered their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, Morgan Stanley reduced their price target on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.55.

Insider Activity at HP

In related news, CEO Enrique Lores sold 211,501 shares of the company’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 transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.

HP Price Performance

HPQ stock opened at $37.00 on Wednesday. HP Inc. has a 12 month low of $27.01 and a 12 month high of $39.52. The firm has a market capitalization of $35.66 billion, a PE ratio of 12.86, a P/E/G ratio of 2.48 and a beta of 1.07. The company’s 50 day simple moving average is $35.68 and its 200-day simple moving average is $34.57.

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

HP declared that its board has approved a share repurchase program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.