HP Inc. (NYSE:HPQ) Shares Acquired by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC increased its holdings in shares of HP Inc. (NYSE:HPQ) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,070 shares of the computer maker’s stock after buying an additional 776 shares during the period. Peddock Capital Advisors LLC’s holdings in HP were worth $1,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Royal Fund Management LLC lifted its position in shares of HP by 57.7% during the 3rd quarter. Royal Fund Management LLC now owns 38,332 shares of the computer maker’s stock valued at $1,380,000 after buying an additional 14,019 shares in the last quarter. Atomi Financial Group Inc. lifted its position in shares of HP by 6.0% during the 3rd quarter. Atomi Financial Group Inc. now owns 7,013 shares of the computer maker’s stock valued at $252,000 after buying an additional 400 shares in the last quarter. Kesler Norman & Wride LLC purchased a new position in shares of HP during the 3rd quarter valued at approximately $501,000. Versant Capital Management Inc lifted its position in shares of HP by 5.9% during the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock valued at $191,000 after buying an additional 297 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of HP by 6.1% during the 3rd quarter. Mather Group LLC. now owns 7,353 shares of the computer maker’s stock valued at $264,000 after buying an additional 421 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of HPQ traded up $0.40 during midday trading on Wednesday, hitting $36.40. The company had a trading volume of 738,832 shares, compared to its average volume of 7,965,357. The company’s 50-day simple moving average is $34.80 and its 200-day simple moving average is $33.51. The firm has a market capitalization of $35.62 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.35 and a beta of 1.07. HP Inc. has a 1 year low of $25.67 and a 1 year high of $39.52.

HP (NYSE:HPQ) last announced its quarterly earnings data 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 company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 EPS. Equities analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HPQ. Bank of America lowered 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. UBS Group raised their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley decreased their price objective on 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. raised their price objective on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Loop Capital decreased their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.55.

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.