HP Inc. (NYSE:HPQ) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. raised its position in HP Inc. (NYSE:HPQ) by 3.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 567,799 shares of the computer maker’s stock after buying an additional 18,665 shares during the quarter. First Horizon Advisors Inc. owned about 0.06% of HP worth $20,367,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in HP during the third quarter worth about $25,000. Triad Wealth Partners LLC purchased a new position in shares of HP during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HP during the 2nd quarter worth approximately $34,000. Wolff Wiese Magana LLC boosted its stake in shares of HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after buying an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in HP during the third quarter worth $37,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on HPQ. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Tuesday, October 1st. Loop Capital reduced their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Barclays dropped their target price 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. Morgan Stanley lowered their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.45.

Insider Buying and Selling at HP

In related news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction on 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Down 1.5 %

NYSE:HPQ opened at $36.87 on Wednesday. The company has a market cap of $35.53 billion, a P/E ratio of 12.94, a P/E/G ratio of 2.51 and a beta of 1.07. The firm’s 50 day moving average is $36.10 and its two-hundred day moving average is $35.21. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.52.

HP (NYSE:HPQ) last announced 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). The firm had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. Research analysts forecast that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its board has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is 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.