HP Inc. (NYSE:HPQ) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. increased its holdings in HP Inc. (NYSE:HPQ) by 12.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,892 shares of the computer maker’s stock after purchasing an additional 1,923 shares during the quarter. Meeder Advisory Services Inc.’s holdings in HP were worth $606,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Chris Bulman Inc purchased a new position in shares of HP during the 2nd quarter valued at approximately $88,000. Principal Financial Group Inc. raised its position in HP by 16.1% during the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after acquiring an additional 160,268 shares during the period. Frank Rimerman Advisors LLC purchased a new position in HP during the second quarter valued at $621,000. Cetera Investment Advisers grew its position in shares of HP by 154.7% in the first quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker’s stock valued at $3,309,000 after purchasing an additional 66,510 shares during the period. Finally, National Pension Service raised its position in shares of HP by 24.1% during the 3rd quarter. National Pension Service now owns 2,162,772 shares of the computer maker’s stock worth $77,579,000 after purchasing an additional 419,774 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of HP 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 directly owns 3 shares of the company’s stock, valued at $99.48. The trade was a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.41% of the stock is owned by insiders.

HP Price Performance

HP stock opened at $36.87 on Wednesday. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.52. The stock has a market cap of $35.53 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The firm has a 50 day simple moving average of $36.10 and a 200-day simple moving average of $35.21.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. Equities analysts expect that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has authorized a share buyback program on Wednesday, August 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HPQ shares. JPMorgan Chase & Co. lifted their price objective on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Friday, September 27th. UBS Group increased 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. Loop Capital dropped their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Finally, Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.55.

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.