Intech Investment Management LLC Buys 923 Shares of HP Inc. (NYSE:HPQ)

Intech Investment Management LLC boosted its position in shares of HP Inc. (NYSE:HPQ) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,510 shares of the computer maker’s stock after acquiring an additional 923 shares during the period. Intech Investment Management LLC’s holdings in HP were worth $5,865,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. King Luther Capital Management Corp increased its holdings in shares of HP by 3.2% in the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after purchasing an additional 303 shares during the period. Citizens Financial Group Inc. RI grew its holdings in shares of HP by 4.3% during the third quarter. Citizens Financial Group Inc. RI now owns 13,239 shares of the computer maker’s stock worth $479,000 after purchasing an additional 544 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of HP in the third quarter worth approximately $805,000. First Horizon Advisors Inc. raised its stake in HP by 3.4% in the third quarter. First Horizon Advisors Inc. now owns 567,799 shares of the computer maker’s stock valued at $20,367,000 after purchasing an additional 18,665 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in HP by 0.3% during the third quarter. Advisors Asset Management Inc. now owns 641,409 shares of the computer maker’s stock valued at $23,007,000 after purchasing an additional 2,120 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Activity at HP

In other news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. The trade was a 100.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HPQ has been the subject of several research reports. JPMorgan Chase & Co. cut their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday. Loop Capital decreased their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. 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. Morgan Stanley lowered 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. Finally, Barclays reduced their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.45.

HP Price Performance

Shares of NYSE HPQ opened at $38.13 on Friday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.52. The stock has a market capitalization of $36.75 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.52 and a beta of 1.07. The company’s 50-day moving average is $36.36 and its 200 day moving average is $35.31.

HP (NYSE:HPQ) last released its earnings results 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 firm had revenue of $13.52 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. Research analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its board has initiated a stock 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 buy up to 28.9% of its shares through open market purchases. Shares repurchase programs are generally an indication 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.