AustralianSuper Pty Ltd Buys 165,407 Shares of HP Inc. (NYSE:HPQ)

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 firm owned 4,199,076 shares of the computer maker’s stock after purchasing an additional 165,407 shares during the quarter. AustralianSuper Pty Ltd’s holdings in HP were worth $150,621,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. LVW Advisors LLC boosted its stake in HP by 1.2% in the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after purchasing an additional 278 shares during the period. Castleview Partners LLC boosted its position in shares of HP by 8.1% in the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after acquiring an additional 289 shares during the period. Versant Capital Management Inc grew its stake in shares of HP by 5.9% in the third quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock valued at $191,000 after acquiring an additional 297 shares in the last quarter. WMG Financial Advisors LLC increased its position in HP by 4.2% during the second quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock worth $274,000 after acquiring an additional 315 shares during the period. Finally, Old Port Advisors raised its stake in HP by 3.4% in the 3rd quarter. Old Port Advisors now owns 9,612 shares of the computer maker’s stock worth $345,000 after purchasing an additional 317 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays lowered their target price 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. Bank of America downgraded 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. JPMorgan Chase & Co. increased their price target on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Tuesday, October 1st. Finally, Loop Capital reduced their target price on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, HP currently has a consensus rating of “Hold” and an average target price of $35.55.

HP Stock Down 3.0 %

HPQ traded down $1.10 during trading on Thursday, hitting $35.44. 1,328,161 shares of the company’s stock were exchanged, 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 fifty-two week low of $25.95 and a fifty-two week high of $39.52. The business’s 50 day moving average is $35.63 and its two-hundred day moving average is $34.29.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $0.86 EPS. On average, sell-side analysts forecast that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its board has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at HP

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

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.