HP Inc. (NYSE:HPQ) Stock Holdings Increased by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC increased its holdings in HP Inc. (NYSE:HPQ) by 65.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,566 shares of the computer maker’s stock after purchasing an additional 12,142 shares during the quarter. Impact Partnership Wealth LLC’s holdings in HP were worth $1,096,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Grimes & Company Inc. purchased a new position in shares of HP in the third quarter worth approximately $205,000. Greystone Financial Group LLC increased its position in shares of HP by 2.0% in the third quarter. Greystone Financial Group LLC now owns 186,457 shares of the computer maker’s stock worth $6,688,000 after acquiring an additional 3,659 shares in the last quarter. Great Lakes Retirement Inc. increased its position in shares of HP by 1.4% in the third quarter. Great Lakes Retirement Inc. now owns 46,129 shares of the computer maker’s stock worth $1,667,000 after acquiring an additional 617 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of HP by 2,201.9% in the third quarter. International Assets Investment Management LLC now owns 107,820 shares of the computer maker’s stock worth $38,680,000 after acquiring an additional 103,136 shares in the last quarter. Finally, Hartford Investment Management Co. increased its position in shares of HP by 11.4% in the third quarter. Hartford Investment Management Co. now owns 61,582 shares of the computer maker’s stock worth $2,209,000 after acquiring an additional 6,289 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

HP Stock Down 0.1 %

HPQ stock traded down $0.04 during midday trading on Thursday, reaching $35.81. The stock had a trading volume of 172,892 shares, compared to its average volume of 7,818,596. HP Inc. has a twelve month low of $25.67 and a twelve month high of $39.52. The firm has a market cap of $35.04 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 2.67 and a beta of 1.07. The business has a fifty day simple moving average of $35.46 and a two-hundred day simple moving average of $34.02.

HP (NYSE:HPQ) last posted its quarterly earnings results 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). The business had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. On average, equities analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Tuesday, October 1st. Morgan Stanley lowered 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 report on Thursday, August 29th. Loop Capital lowered 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. UBS Group boosted their price objective 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. Finally, Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.55.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the completion of the sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.41% of the company’s stock.

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.