HP Inc. (NYSE:HPQ) Shares Purchased by Vest Financial LLC

Vest Financial LLC increased its stake in shares of HP Inc. (NYSE:HPQ) by 51.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,215 shares of the computer maker’s stock after buying an additional 6,181 shares during the period. Vest Financial LLC’s holdings in HP were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HPQ. Sawyer & Company Inc grew its holdings in shares of HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after acquiring an additional 900 shares during the period. Triad Wealth Partners LLC acquired a new stake in HP in the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HP in the second quarter valued at $34,000. Wolff Wiese Magana LLC raised its stake 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 last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of HP in the 3rd quarter worth about $37,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Morgan Stanley dropped their target price 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. Barclays lowered their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. UBS Group increased their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Tuesday, October 1st. One equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.55.

HP Trading Down 2.2 %

HP stock opened at $36.46 on Tuesday. The stock has a fifty day moving average price of $35.41 and a 200 day moving average price of $33.96. HP Inc. has a 52 week low of $25.67 and a 52 week high of $39.52. The firm has a market capitalization of $35.68 billion, a P/E ratio of 12.32, a PEG ratio of 2.67 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 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same period in the prior year, the company earned $0.86 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP announced that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was 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 directly owns 3 shares in the company, valued at $99.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.41% of the stock is owned by company 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.