Caprock Group LLC Increases Stock Holdings in HP Inc. (NYSE:HPQ)

Caprock Group LLC grew its holdings in HP Inc. (NYSE:HPQ) by 74.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,041 shares of the computer maker’s stock after purchasing an additional 62,323 shares during the period. Caprock Group LLC’s holdings in HP were worth $5,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in HPQ. Ashton Thomas Securities LLC purchased a new position in HP in the 3rd quarter worth about $25,000. Triad Wealth Partners LLC purchased a new position in shares of HP during the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HP during the second quarter valued at approximately $34,000. Wolff Wiese Magana LLC grew its stake in HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in HP during the 3rd quarter valued at $37,000. 77.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at HP

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 sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. This represents a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Friday, September 27th. Morgan Stanley dropped their price objective on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Barclays decreased their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, HP has a consensus rating of “Hold” and a consensus target price of $35.55.

HP Trading Up 1.9 %

Shares of NYSE:HPQ opened at $37.43 on Tuesday. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.52. The company has a market cap of $36.07 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The company’s 50 day moving average is $36.03 and its 200 day moving average is $35.15.

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). The business had revenue of $13.52 billion for 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%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Equities research analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

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

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.