HP Inc. (NYSE:HPQ) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC grew its stake in shares of HP Inc. (NYSE:HPQ) by 26.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,230 shares of the computer maker’s stock after purchasing an additional 13,472 shares during the quarter. Ballentine Partners LLC’s holdings in HP were worth $2,304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of HP by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after acquiring an additional 3,062,441 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of HP in the 2nd quarter valued at $62,672,000. DAVENPORT & Co LLC increased its holdings in shares of HP by 10,188.2% in the 1st quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock valued at $53,680,000 after acquiring an additional 1,760,631 shares during the period. DME Capital Management LP increased its holdings in shares of HP by 108.7% in the 2nd quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after acquiring an additional 1,757,070 shares during the period. Finally, Primecap Management Co. CA increased its holdings in shares of HP by 6.2% in the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock valued at $786,237,000 after acquiring an additional 1,319,731 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity at HP

In related news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HPQ has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. UBS Group boosted their price objective on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, October 1st. Loop Capital dropped their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, Bank of America cut shares of 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HP presently has a consensus rating of “Hold” and an average price target of $35.55.

HP Stock Up 1.1 %

HP stock opened at $36.88 on Friday. HP Inc. has a 52 week low of $25.67 and a 52 week high of $39.52. The firm’s 50-day simple moving average is $35.48 and its 200 day simple moving average is $34.04. The firm has a market capitalization of $35.54 billion, a PE ratio of 12.94, a P/E/G ratio of 2.64 and a beta of 1.07.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 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 during the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. HP’s quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.

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