HP Inc. (NYSE:HPQ) Shares Purchased by Integrated Advisors Network LLC

by · The Markets Daily

Integrated Advisors Network LLC boosted its holdings in HP Inc. (NYSE:HPQ – Free Report) by 8.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 90,990 shares of the computer maker’s stock after buying an additional 7,230 shares during the period. Integrated Advisors Network LLC’s holdings in HP were worth $3,264,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in HP by 2.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 188,350 shares of the computer maker’s stock valued at $5,692,000 after purchasing an additional 4,815 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of HP by 49.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,279 shares of the computer maker’s stock valued at $69,000 after buying an additional 754 shares during the period. State of Michigan Retirement System increased its holdings in shares of HP by 0.3% during the 1st quarter. State of Michigan Retirement System now owns 304,262 shares of the computer maker’s stock worth $9,195,000 after buying an additional 800 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of HP in the 1st quarter worth $269,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in HP by 7.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,278,175 shares of the computer maker’s stock valued at $68,846,000 after acquiring an additional 148,298 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Price Performance

NYSE:HPQ opened at $37.06 on Wednesday. The firm has a 50-day moving average of $35.60 and a two-hundred day moving average of $34.28. The stock has a market cap of $36.27 billion, a P/E ratio of 12.52, a PEG ratio of 2.64 and a beta of 1.07. HP Inc. has a 1-year low of $25.90 and a 1-year high of $39.52.

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

HP declared that its board has approved a share buyback program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in 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 typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have commented on HPQ shares. UBS Group upped their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Morgan Stanley reduced their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Loop Capital dropped their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Finally, Barclays cut their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, HP presently has a consensus rating of “Hold” and a consensus target price of $35.55.

Check Out Our Latest Stock Report on HP

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction 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 directly owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is currently owned by corporate insiders.

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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