Plimoth Trust Co. LLC Has $244,000 Stock Position in HP Inc. (NYSE:HPQ)

Plimoth Trust Co. LLC cut its position in HP Inc. (NYSE:HPQ) by 11.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,790 shares of the computer maker’s stock after selling 850 shares during the quarter. Plimoth Trust Co. LLC’s holdings in HP were worth $244,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Castleview Partners LLC grew its position in shares of HP by 8.1% in the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after purchasing an additional 289 shares during the last quarter. Vest Financial LLC boosted its stake in HP by 51.4% during the 3rd quarter. Vest Financial LLC now owns 18,215 shares of the computer maker’s stock valued at $653,000 after purchasing an additional 6,181 shares during the period. Werba Rubin Papier Wealth Management grew its holdings in HP by 2.9% in the 3rd quarter. Werba Rubin Papier Wealth Management now owns 12,407 shares of the computer maker’s stock valued at $445,000 after buying an additional 354 shares during the last quarter. Raymond James & Associates increased its position in HP by 28.2% in the 3rd quarter. Raymond James & Associates now owns 1,106,732 shares of the computer maker’s stock worth $39,698,000 after buying an additional 243,230 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of HP by 80.5% during the third quarter. Blue Trust Inc. now owns 10,580 shares of the computer maker’s stock worth $371,000 after buying an additional 4,718 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HPQ shares. JPMorgan Chase & Co. raised their price objective on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Tuesday, October 1st. Loop Capital decreased their target price on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Friday, September 27th. Finally, UBS Group raised their price objective on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.55.

HP Price Performance

Shares of HPQ stock traded down $0.82 during trading hours on Monday, hitting $36.46. 5,593,460 shares of the company’s stock were exchanged, compared to its average volume of 7,886,076. The stock’s 50-day moving average is $35.36 and its 200-day moving average is $33.91. HP Inc. has a 52 week low of $25.67 and a 52 week high of $39.52. The stock has a market cap of $35.68 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 2.67 and a beta of 1.07.

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

HP announced that its board has authorized a share buyback program on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is 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.