HP Inc. (NYSE:HPQ) Shares Bought by Huntington National Bank

Huntington National Bank raised its position in HP Inc. (NYSE:HPQ) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 81,015 shares of the computer maker’s stock after buying an additional 9,591 shares during the period. Huntington National Bank’s holdings in HP were worth $2,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in HP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after purchasing an additional 3,062,441 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of HP by 6.2% during the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after buying an additional 1,319,731 shares during the last quarter. Legal & General Group Plc raised its position in shares of HP by 11.3% during the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after buying an additional 1,089,848 shares during the period. Bank of New York Mellon Corp grew its position in HP by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock worth $294,253,000 after acquiring an additional 287,861 shares during the period. Finally, AQR Capital Management LLC increased its stake in HP by 4.1% during the second quarter. AQR Capital Management LLC now owns 5,359,174 shares of the computer maker’s stock worth $186,928,000 after acquiring an additional 213,116 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HPQ. Loop Capital cut their price objective on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Friday, September 27th. JPMorgan Chase & Co. boosted their target price on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. UBS Group lifted their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley lowered their target price on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.55.

Insider Buying and Selling

In other news, CEO Enrique Lores sold 211,501 shares of the firm’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 owns 3 shares in the company, valued at approximately $99.48. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by company insiders.

HP Trading Up 0.6 %

Shares of HPQ opened at $36.72 on Friday. The firm’s fifty day simple moving average is $35.91 and its 200-day simple moving average is $34.92. The firm has a market capitalization of $35.39 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 2.52 and a beta of 1.07. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.52.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $13.37 billion. During the same period in the prior year, the company posted $0.86 earnings per share. The company’s revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has approved a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in outstanding 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 generally a sign that the company’s leadership 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.