Fifth Third Wealth Advisors LLC Has $563,000 Stock Position in HP Inc. (NYSE:HPQ)

Fifth Third Wealth Advisors LLC lifted its holdings in shares of HP Inc. (NYSE:HPQ) by 26.5% during the 3rd quarter, according to the company in its most recent 13F 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 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of HP during the 3rd quarter worth $25,000. Triad Wealth Partners LLC acquired a new position in shares of HP during the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HP during the 2nd quarter worth $34,000. Wolff Wiese Magana LLC boosted its holdings 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 during the period. Finally, ORG Wealth Partners LLC bought a new stake in shares of HP during the 3rd quarter worth $37,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Performance

NYSE:HPQ opened at $36.70 on Thursday. The company has a 50-day moving average of $36.17 and a 200-day moving average of $35.22. The company has a market capitalization of $35.36 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 2.51 and a beta of 1.07. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.52.

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

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

Analysts Set New Price Targets

HPQ has been the subject of several recent analyst reports. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Tuesday, October 1st. Morgan Stanley decreased their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Friday, September 27th. Barclays decreased their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Finally, Loop Capital decreased their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.45.

Insider Buying and Selling

In related news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 3 shares in the company, valued at $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

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.