Royal Fund Management LLC Grows Stock Holdings in HP Inc. (NYSE:HPQ)

Royal Fund Management LLC boosted its holdings in HP Inc. (NYSE:HPQ) by 57.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,332 shares of the computer maker’s stock after purchasing an additional 14,019 shares during the quarter. Royal Fund Management LLC’s holdings in HP were worth $1,380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HPQ. Sawyer & Company Inc boosted its holdings in shares of HP by 900.0% during the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after purchasing an additional 900 shares during the last quarter. Rise Advisors LLC boosted its position in shares of HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 839 shares during the last quarter. Triad Wealth Partners LLC bought a new position in shares of HP during the 2nd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HP in the second quarter valued at $34,000. Finally, DecisionPoint Financial LLC bought a new stake in shares of HP in the 2nd quarter worth about $43,000. Institutional investors own 77.53% of the company’s stock.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of HP 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 transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. Barclays lowered their price target on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Loop Capital reduced their target price 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. Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, HP currently has an average rating of “Hold” and an average target price of $35.55.

HP Stock Performance

HPQ traded up $0.29 during trading on Wednesday, hitting $36.29. 284,268 shares of the stock were exchanged, compared to its average volume of 7,962,610. HP Inc. has a 1 year low of $25.67 and a 1 year high of $39.52. The firm has a market cap of $35.51 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 2.35 and a beta of 1.07. The firm has a 50 day simple moving average of $34.80 and a 200 day simple moving average of $33.51.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, 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 approved a share buyback program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is 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.