Thurston Springer Miller Herd & Titak Inc. Raises Position in HP Inc. (NYSE:HPQ)

Thurston Springer Miller Herd & Titak Inc. raised its position in shares of HP Inc. (NYSE:HPQ) by 674.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,465 shares of the computer maker’s stock after purchasing an additional 6,501 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in HP were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. LVW Advisors LLC raised its stake in HP by 1.2% in the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after acquiring an additional 278 shares during the period. Versant Capital Management Inc lifted its stake 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. 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 worth $274,000 after buying an additional 315 shares during the period. J.W. Cole Advisors Inc. grew its stake 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 buying an additional 345 shares in the last quarter. Finally, Annex Advisory Services LLC raised its holdings in HP by 0.4% during the 3rd quarter. Annex Advisory Services LLC now owns 77,829 shares of the computer maker’s stock valued at $2,792,000 after acquiring an additional 347 shares during the period. 77.53% of the stock is currently owned by institutional investors.

HP Stock Performance

Shares of HPQ opened at $37.44 on Tuesday. HP Inc. has a fifty-two week low of $25.67 and a fifty-two week high of $39.52. The firm has a 50 day moving average price of $35.00 and a 200-day moving average price of $33.71. The firm has a market cap of $36.64 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 2.67 and a beta of 1.07.

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 analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. As a group, equities research analysts predict that HP Inc. will post 3.39 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

HPQ has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Tuesday, October 1st. Barclays reduced their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. Morgan Stanley lowered their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Friday, September 27th. One 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.55.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.

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.