HP Inc. (NYSE:HPQ) Shares Purchased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd raised its position in HP Inc. (NYSE:HPQ) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,199,076 shares of the computer maker’s stock after purchasing an additional 165,407 shares during the quarter. AustralianSuper Pty Ltd owned about 0.43% of HP worth $150,621,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in HPQ. SeaCrest Wealth Management LLC purchased a new stake in HP during the 1st quarter valued at approximately $269,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in HP by 7.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,278,175 shares of the computer maker’s stock valued at $68,846,000 after purchasing an additional 148,298 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in HP by 85.9% in the 1st quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock worth $5,275,000 after buying an additional 80,670 shares during the last quarter. Norden Group LLC acquired a new position in shares of HP during the 1st quarter valued at about $665,000. Finally, First Trust Direct Indexing L.P. lifted its holdings in shares of HP by 7.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 30,498 shares of the computer maker’s stock worth $922,000 after acquiring an additional 2,086 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Performance

Shares of HP stock traded down $1.10 during trading on Thursday, hitting $35.44. 1,328,161 shares of the stock traded hands, compared to its average volume of 7,766,100. The stock has a market cap of $34.68 billion, a P/E ratio of 12.34, a PEG ratio of 2.64 and a beta of 1.07. HP Inc. has a twelve month low of $25.95 and a twelve month high of $39.52. The company has a fifty day moving average price of $35.63 and a two-hundred day moving average price of $34.29.

HP (NYSE:HPQ) last issued its quarterly earnings data 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 for 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 business’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 EPS. On average, equities research analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Enrique Lores sold 211,501 shares of the firm’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 sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HPQ shares. UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, September 27th. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Tuesday, October 1st. Loop Capital reduced their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, Barclays cut their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, HP currently has a consensus 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.