HP Inc. (NYSE:HPQ) Stock Position Increased by Fifth Third Wealth Advisors LLC

by · The Markets Daily

Fifth Third Wealth Advisors LLC boosted its position in HP Inc. (NYSE:HPQ – Free Report) by 26.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,691 shares of the computer maker’s stock after purchasing an additional 3,287 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in HP were worth $563,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in HP in the 3rd quarter valued at about $25,000. Triad Wealth Partners LLC bought a new stake in shares of HP during the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HP during the 2nd quarter worth about $34,000. Wolff Wiese Magana LLC raised its position in shares of HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after buying an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of HP during the 3rd quarter worth about $37,000. 77.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HPQ has been the topic of a number of recent analyst reports. Loop Capital dropped their price target 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. Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Friday, September 27th. 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 report on Thursday, August 29th. JPMorgan Chase & Co. dropped their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Barclays dropped their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.45.

Get Our Latest Stock Report on HPQ

HP Price Performance

HP stock opened at $36.70 on Thursday. The firm’s 50 day simple moving average is $36.17 and its 200-day simple moving average is $35.22. The company has a market cap of $35.36 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.52.

HP (NYSE:HPQ – Get Free Report) last released 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). The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. On average, analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its board has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at HP

In other HP 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 value of $7,013,373.16. Following the transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This represents a 100.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.41% of the company’s stock.

About HP

(Free Report)

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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