National Pension Service Acquires 419,774 Shares of HP Inc. (NYSE:HPQ)

National Pension Service grew its holdings in HP Inc. (NYSE:HPQ) by 24.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,162,772 shares of the computer maker’s stock after buying an additional 419,774 shares during the quarter. National Pension Service’s holdings in HP were worth $77,579,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Intact Investment Management Inc. bought a new position in shares of HP during the third quarter valued at approximately $1,614,000. Robeco Institutional Asset Management B.V. increased its position in HP by 3.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,382,919 shares of the computer maker’s stock valued at $85,475,000 after purchasing an additional 74,396 shares during the period. Van ECK Associates Corp raised its holdings in HP by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 37,550 shares of the computer maker’s stock worth $1,346,000 after purchasing an additional 2,139 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of HP by 15.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,052 shares of the computer maker’s stock worth $468,000 after purchasing an additional 1,724 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of HP by 21.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 213,558 shares of the computer maker’s stock valued at $7,660,000 after purchasing an additional 37,669 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HPQ shares. Barclays decreased their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. Loop Capital lowered their target price on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. 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 research note on Friday, September 27th. UBS Group increased their price objective on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.55.

HP Stock Performance

NYSE:HPQ opened at $36.64 on Wednesday. The firm has a market cap of $35.31 billion, a P/E ratio of 12.86, a P/E/G ratio of 2.48 and a beta of 1.07. HP Inc. has a fifty-two week low of $27.01 and a fifty-two week high of $39.52. The firm has a 50-day simple moving average of $35.68 and a two-hundred day simple moving average of $34.57.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. On average, equities research analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’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 transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

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.