HP Inc. (NYSE:HPQ) Stake Raised by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co grew its stake in shares of HP Inc. (NYSE:HPQ) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,783 shares of the computer maker’s stock after acquiring an additional 3,769 shares during the period. Elo Mutual Pension Insurance Co’s holdings in HP were worth $3,144,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in HPQ. WMG Financial Advisors LLC lifted its stake in shares of HP by 4.2% in 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 during the last quarter. J.W. Cole Advisors Inc. increased its stake in HP by 2.9% during the second quarter. J.W. Cole Advisors Inc. now owns 12,296 shares of the computer maker’s stock valued at $431,000 after acquiring an additional 345 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in shares of HP by 11.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,568 shares of the computer maker’s stock valued at $125,000 after purchasing an additional 372 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in shares of HP by 1.2% during the 1st quarter. Jacobi Capital Management LLC now owns 34,228 shares of the computer maker’s stock worth $1,034,000 after acquiring an additional 390 shares during the period. Finally, Whittier Trust Co. boosted its holdings in HP by 1.6% during the second quarter. Whittier Trust Co. now owns 25,776 shares of the computer maker’s stock valued at $903,000 after purchasing an additional 402 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Activity

In other news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction on 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 transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the topic of several analyst reports. Loop Capital lowered their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. UBS Group lifted their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Wells Fargo & Company increased their target price on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Citigroup boosted their price objective on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Morgan Stanley reduced their price objective 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, HP has a consensus rating of “Hold” and an average target price of $35.55.

HP Price Performance

Shares of NYSE HPQ opened at $34.82 on Friday. HP Inc. has a one year low of $25.22 and a one year high of $39.52. The firm has a market cap of $34.07 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 2.23 and a beta of 1.07. The stock’s fifty day moving average price is $35.19 and its two-hundred day moving average price is $32.97.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The business had revenue of $13.52 billion during 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 quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. On average, equities 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 stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board 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.