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

Integrated Advisors Network LLC boosted its holdings in HP Inc. (NYSE:HPQ) by 8.6% in the third quarter, HoldingsChannel.com reports. The firm owned 90,990 shares of the computer maker’s stock after acquiring an additional 7,230 shares during the period. Integrated Advisors Network LLC’s holdings in HP were worth $3,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of HP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after buying an additional 3,062,441 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in HP in the second quarter valued at approximately $62,672,000. DAVENPORT & Co LLC grew its holdings in shares of HP by 10,188.2% during the first quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock valued at $53,680,000 after purchasing an additional 1,760,631 shares during the last quarter. DME Capital Management LP raised its position in shares of HP by 108.7% during the 2nd quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock worth $118,124,000 after purchasing an additional 1,757,070 shares during the period. Finally, Primecap Management Co. CA lifted its holdings in shares of HP by 6.2% in the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after purchasing an additional 1,319,731 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays dropped their target price on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Friday, September 27th. Morgan Stanley reduced their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. UBS Group raised their price target on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Loop Capital reduced their price objective on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, HP currently has a consensus rating of “Hold” and an average target price of $35.55.

HP Price Performance

NYSE HPQ opened at $37.06 on Wednesday. The firm has a market capitalization of $36.27 billion, a PE ratio of 12.52, a P/E/G ratio of 2.64 and a beta of 1.07. HP Inc. has a 12 month low of $25.90 and a 12 month high of $39.52. The company’s 50 day simple moving average is $35.60 and its 200 day simple moving average is $34.28.

HP (NYSE:HPQ) last issued 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 net margin of 5.33% and a negative return on equity of 266.37%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. Sell-side analysts anticipate that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of HP 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 of the company’s stock, valued at $99.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.41% of the stock is owned by corporate insiders.

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.