HP Inc. (NYSE:HPQ) Shares Purchased by Creative Planning

Creative Planning boosted its stake in shares of HP Inc. (NYSE:HPQ) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 225,129 shares of the computer maker’s stock after buying an additional 11,240 shares during the quarter. Creative Planning’s holdings in HP were worth $8,075,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Chris Bulman Inc acquired a new position in shares of HP during the 2nd quarter worth $88,000. Daiwa Securities Group Inc. raised its position in HP by 27.5% during the first quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock worth $3,213,000 after acquiring an additional 22,909 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of HP by 85.9% in the first quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock valued at $5,275,000 after purchasing an additional 80,670 shares in the last quarter. Swiss National Bank grew its position in shares of HP by 1.4% in the first quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock valued at $85,193,000 after purchasing an additional 37,800 shares during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of HP during the 2nd quarter worth approximately $621,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HPQ shares. Morgan Stanley reduced their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. UBS Group increased their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Tuesday, October 1st. Loop Capital decreased their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, HP currently has an average rating of “Hold” and an average price target of $35.55.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of HPQ stock opened at $35.85 on Thursday. The firm has a market capitalization of $35.08 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 2.67 and a beta of 1.07. The company has a 50 day moving average price of $35.46 and a 200 day moving average price of $34.02. HP Inc. has a one year low of $25.67 and a one year high of $39.52.

HP (NYSE:HPQ) last issued its earnings results 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 firm had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. During the same period last year, the business posted $0.86 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts forecast that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its board has approved a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

HP Profile

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.