HP Inc. (NYSE:HPQ) Shares Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC raised its position in shares of HP Inc. (NYSE:HPQ) by 26.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,038 shares of the computer maker’s stock after acquiring an additional 1,884 shares during the quarter. Foundations Investment Advisors LLC’s holdings in HP were worth $324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HPQ. LVW Advisors LLC raised its position in shares of HP by 1.2% in the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after buying an additional 278 shares during the last quarter. Castleview Partners LLC raised its holdings in HP by 8.1% in the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after acquiring an additional 289 shares during the last quarter. Versant Capital Management Inc lifted its stake in HP by 5.9% in the 3rd 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 in the last quarter. WMG Financial Advisors LLC boosted its holdings in shares of HP by 4.2% during the 2nd quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock worth $274,000 after purchasing an additional 315 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its position in shares of HP by 2.9% in the second quarter. J.W. Cole Advisors Inc. now owns 12,296 shares of the computer maker’s stock valued at $431,000 after purchasing an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Trading Up 1.1 %

Shares of NYSE HPQ opened at $36.88 on Friday. The stock has a fifty day simple moving average of $35.48 and a 200-day simple moving average of $34.04. HP Inc. has a twelve month low of $25.67 and a twelve month high of $39.52. The stock has a market capitalization of $35.54 billion, a PE ratio of 12.94, a PEG ratio of 2.64 and a beta of 1.07.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. On average, equities analysts predict that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its board has initiated a share 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 buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Loop Capital lowered their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Friday, September 27th. Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Tuesday, October 1st. Finally, Barclays reduced 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, HP has an average rating of “Hold” and an average price target of $35.55.

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 sale, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

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.