HP Inc. (NYSE:HPQ) Shares Acquired by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. increased its position in shares of HP Inc. (NYSE:HPQ) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,129 shares of the computer maker’s stock after buying an additional 617 shares during the period. Great Lakes Retirement Inc.’s holdings in HP were worth $1,667,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Sawyer & Company Inc lifted its stake in shares of HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after acquiring an additional 900 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of HP in the 2nd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HP during the 2nd quarter valued at approximately $34,000. Wolff Wiese Magana LLC grew its position in shares of HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after buying an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of HP in the third quarter worth $37,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Performance

Shares of HPQ opened at $35.85 on Thursday. HP Inc. has a 1 year low of $25.67 and a 1 year high of $39.52. The firm has a fifty day moving average of $35.46 and a 200-day moving average of $34.02. The company has a market cap 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.

HP (NYSE:HPQ) last posted its 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 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 analyst estimates of $13.37 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts predict that HP Inc. will post 3.39 EPS for the current year.

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Morgan Stanley reduced their price objective 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. Loop Capital decreased their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, September 27th. Barclays decreased their target price 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. Finally, UBS Group upped their price target on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.55.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’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 completion of the transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is owned by 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.