Klein Pavlis & Peasley Financial Inc. Has $3.20 Million Stock Holdings in HP Inc. (NYSE:HPQ)

Klein Pavlis & Peasley Financial Inc. grew its holdings in HP Inc. (NYSE:HPQ) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,150 shares of the computer maker’s stock after purchasing an additional 2,108 shares during the quarter. HP comprises about 2.6% of Klein Pavlis & Peasley Financial Inc.’s portfolio, making the stock its 11th biggest position. Klein Pavlis & Peasley Financial Inc.’s holdings in HP were worth $3,198,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Custom Index Systems LLC raised its position in HP by 88.5% in the 3rd quarter. Custom Index Systems LLC now owns 25,172 shares of the computer maker’s stock valued at $903,000 after buying an additional 11,820 shares during the last quarter. State of Alaska Department of Revenue boosted its position in HP by 11.4% during the third quarter. State of Alaska Department of Revenue now owns 193,700 shares of the computer maker’s stock worth $6,947,000 after purchasing an additional 19,845 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of HP by 19.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 233,969 shares of the computer maker’s stock valued at $8,392,000 after purchasing an additional 37,761 shares in the last quarter. PFG Investments LLC increased its position in shares of HP by 1.1% during the third quarter. PFG Investments LLC now owns 30,684 shares of the computer maker’s stock valued at $1,101,000 after buying an additional 322 shares during the period. Finally, Forsta AP Fonden raised its holdings in shares of HP by 4.7% in the 3rd quarter. Forsta AP Fonden now owns 282,200 shares of the computer maker’s stock valued at $10,123,000 after acquiring an additional 12,600 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Friday, September 27th. Citigroup cut 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. UBS Group increased their price target on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Morgan Stanley cut their target price on shares of HP from $37.00 to $36.00 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 given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, HP presently has an average rating of “Hold” and a consensus price target of $35.55.

Insiders Place Their Bets

In related 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 completion of the transaction, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

HP Price Performance

NYSE:HPQ opened at $36.88 on Monday. The firm has a market cap of $36.09 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 2.64 and a beta of 1.07. HP Inc. has a 1-year low of $25.67 and a 1-year high of $39.52. The firm’s fifty day moving average price is $35.50 and its 200 day moving average price is $34.16.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. As a group, analysts expect that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has initiated a share repurchase program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are 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.