Citizens Financial Group Inc. RI Has $479,000 Stake in HP Inc. (NYSE:HPQ)

Citizens Financial Group Inc. RI lifted its stake in shares of HP Inc. (NYSE:HPQ) by 4.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,239 shares of the computer maker’s stock after acquiring an additional 544 shares during the period. Citizens Financial Group Inc. RI’s holdings in HP were worth $479,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HPQ. LVW Advisors LLC raised its stake in HP by 1.2% during the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after buying an additional 278 shares during the period. Castleview Partners LLC raised its position in shares of HP by 8.1% during the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock worth $138,000 after purchasing an additional 289 shares during the period. Versant Capital Management Inc raised its position in shares of HP by 5.9% during the third quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after purchasing an additional 297 shares during the period. Arvest Investments Inc. grew its position in HP by 0.9% in the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after purchasing an additional 310 shares during the period. Finally, WMG Financial Advisors LLC increased its stake in HP by 4.2% during the 2nd quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock valued at $274,000 after purchasing an additional 315 shares in the last quarter. 77.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HPQ shares. Morgan Stanley lowered their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. lowered their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, September 27th. Barclays lowered their price target on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, UBS Group lifted their price objective on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, HP currently has an average rating of “Hold” and an average target price of $35.45.

Insider Buying and Selling

In other news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the completion of the transaction, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by company insiders.

HP Stock Up 0.6 %

Shares of NYSE HPQ opened at $38.13 on Friday. The stock’s 50-day simple moving average is $36.36 and its two-hundred day simple moving average is $35.35. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.52. The firm has a market capitalization of $36.75 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.61 and a beta of 1.07.

HP (NYSE:HPQ) last posted 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). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter last year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, research analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are 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.