Annex Advisory Services LLC Buys 347 Shares of HP Inc. (NYSE:HPQ)

Annex Advisory Services LLC raised its stake in HP Inc. (NYSE:HPQ) by 0.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 77,829 shares of the computer maker’s stock after purchasing an additional 347 shares during the quarter. Annex Advisory Services LLC’s holdings in HP were worth $2,792,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Ritholtz Wealth Management raised its holdings in HP by 8.0% during the 3rd quarter. Ritholtz Wealth Management now owns 96,195 shares of the computer maker’s stock valued at $3,451,000 after buying an additional 7,108 shares during the last quarter. First Affirmative Financial Network increased its position in shares of HP by 43.9% in the third quarter. First Affirmative Financial Network now owns 8,322 shares of the computer maker’s stock valued at $298,000 after acquiring an additional 2,538 shares during the period. Valeo Financial Advisors LLC increased its position in shares of HP by 230.5% in the third quarter. Valeo Financial Advisors LLC now owns 34,684 shares of the computer maker’s stock valued at $1,244,000 after acquiring an additional 24,189 shares during the period. Fiduciary Financial Group LLC raised its stake in shares of HP by 16.7% during the third quarter. Fiduciary Financial Group LLC now owns 8,429 shares of the computer maker’s stock valued at $303,000 after acquiring an additional 1,205 shares during the last quarter. Finally, Peak Financial Advisors LLC purchased a new stake in shares of HP during the third quarter worth about $3,069,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. 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 report on Friday, September 27th. Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Tuesday, October 1st. UBS Group raised their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Loop Capital reduced their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Finally, Morgan Stanley decreased their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.55.

Insider Buying and Selling at HP

In related news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the transaction, the chief executive officer now owns 3 shares in the company, valued at $99.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by company insiders.

HP Price Performance

NYSE:HPQ opened at $37.01 on Friday. The firm’s 50-day moving average price is $34.91 and its 200-day moving average price is $33.63. The company has a market capitalization of $36.22 billion, a PE ratio of 12.50, a P/E/G ratio of 2.67 and a beta of 1.07. HP Inc. has a 1-year low of $25.67 and a 1-year high of $39.52.

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

HP announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is 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.