WoodTrust Financial Corp Takes $204,000 Position in HP Inc. (NYSE:HPQ)

WoodTrust Financial Corp bought a new stake in shares of HP Inc. (NYSE:HPQ) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 5,692 shares of the computer maker’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in HP by 2.6% in the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after purchasing an additional 3,062,441 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of HP by 6.2% during the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after acquiring an additional 1,319,731 shares during the last quarter. Legal & General Group Plc boosted its holdings in HP by 11.3% during the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after acquiring an additional 1,089,848 shares during the period. Bank of New York Mellon Corp increased its stake in HP by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock worth $294,253,000 after purchasing an additional 287,861 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of HP by 4.1% during the second quarter. AQR Capital Management LLC now owns 5,359,174 shares of the computer maker’s stock worth $186,928,000 after purchasing an additional 213,116 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Loop Capital reduced their price target 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. JPMorgan Chase & Co. raised their target price on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Tuesday, October 1st. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Friday, September 27th. Finally, UBS Group upped their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, HP has a consensus rating of “Hold” and an average price target of $35.55.

HP Price Performance

Shares of NYSE HPQ opened at $37.35 on Friday. HP Inc. has a 1-year low of $27.01 and a 1-year high of $39.52. The business has a fifty day moving average price of $35.72 and a 200 day moving average price of $34.59. The stock has a market capitalization of $35.99 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 2.46 and a beta of 1.07.

HP (NYSE:HPQ) last released 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 period in the previous year, the company posted $0.86 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities research 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 stock buyback 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the 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 sale, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by insiders.

HP Company 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.