HP Inc. (NYSE:HPQ) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its holdings in shares of HP Inc. (NYSE:HPQ) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,904,500 shares of the computer maker’s stock after acquiring an additional 7,400 shares during the period. Swiss National Bank’s holdings in HP were worth $104,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC acquired a new stake in HP in the third quarter worth approximately $25,000. Triad Wealth Partners LLC acquired a new stake in HP in the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HP in the second quarter worth approximately $34,000. Wolff Wiese Magana LLC lifted its position 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 during the period. Finally, ORG Wealth Partners LLC acquired a new stake in HP in the third quarter worth approximately $37,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on HPQ. Morgan Stanley cut their target price on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Bank of America cut 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 price target on the stock. in a report on Tuesday, October 1st. UBS Group upped their price target on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Barclays dropped their price target on 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 assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, HP has a consensus rating of “Hold” and a consensus price target of $35.55.

Insider Activity

In related news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. This represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Up 1.9 %

Shares of NYSE:HPQ opened at $37.43 on Tuesday. The company’s fifty day moving average is $36.03 and its two-hundred day moving average is $35.15. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.52. The company has a market cap of $36.07 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07.

HP (NYSE:HPQ) last posted 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 company had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. Equities research analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its Board of Directors has initiated a share buyback program 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 programs are usually a sign that the company’s management believes its stock is undervalued.

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.