Czech National Bank Acquires 34,881 Shares of HP Inc. (NYSE:HPQ)

Czech National Bank raised its holdings in HP Inc. (NYSE:HPQ) by 21.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,343 shares of the computer maker’s stock after purchasing an additional 34,881 shares during the period. Czech National Bank’s holdings in HP were worth $7,150,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. WMG Financial Advisors LLC boosted its holdings in 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 period. J.W. Cole Advisors Inc. boosted its holdings in HP by 2.9% in the 2nd 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 during the period. Massmutual Trust Co. FSB ADV boosted its holdings in HP by 11.6% in the 2nd 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 during the period. Jacobi Capital Management LLC boosted its holdings in HP by 1.2% in the 1st quarter. Jacobi Capital Management LLC now owns 34,228 shares of the computer maker’s stock valued at $1,034,000 after purchasing an additional 390 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its holdings in HP by 9.6% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 4,506 shares of the computer maker’s stock valued at $158,000 after purchasing an additional 395 shares during the period. Institutional investors own 77.53% of the company’s stock.

HP Price Performance

HPQ stock opened at $35.99 on Friday. The company has a 50 day simple moving average of $34.80 and a 200 day simple moving average of $33.40. The stock has a market cap of $35.22 billion, a price-to-earnings 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 $25.59 and a 1 year high of $39.52.

HP (NYSE:HPQ) last released its quarterly earnings data 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 company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. HP’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its board has approved a share buyback plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

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 shares were 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 directly owns 3 shares of the company’s stock, valued at $99.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Loop Capital cut their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Friday, September 27th. UBS Group boosted their target price on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Tuesday, October 1st. Finally, Barclays dropped their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, HP currently has an average rating of “Hold” and an average 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.