UMB Bank n.a. Has $555,000 Stock Holdings in HP Inc. (NYSE:HPQ)

UMB Bank n.a. decreased its position in HP Inc. (NYSE:HPQ) by 11.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,486 shares of the computer maker’s stock after selling 2,066 shares during the period. UMB Bank n.a.’s holdings in HP were worth $555,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HPQ. Sawyer & Company Inc lifted its position in HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after purchasing an additional 900 shares during the period. Rise Advisors LLC lifted its holdings in shares of HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after acquiring an additional 839 shares during the period. Triad Wealth Partners LLC acquired a new stake in shares of HP during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HP in the second quarter valued at about $34,000. Finally, DecisionPoint Financial LLC acquired a new position in HP in the second quarter worth about $43,000. Institutional investors own 77.53% of the company’s stock.

HP Price Performance

HPQ stock opened at $37.02 on Friday. The company has a 50 day moving average price of $34.84 and a 200 day moving average price of $33.56. HP Inc. has a fifty-two week low of $25.67 and a fifty-two week high of $39.52. The stock has a market capitalization of $36.23 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 2.67 and a beta of 1.07.

HP (NYSE:HPQ) last released 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). The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS. As a group, equities analysts expect that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its board has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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 directly owns 3 shares of the company’s stock, valued at $99.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, September 27th. Morgan Stanley lowered their price target on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Citigroup lowered 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. Finally, Barclays cut their price target on shares of HP from $33.00 to $32.00 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 given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, HP has an average rating of “Hold” and an average target price of $35.55.

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.