HP Inc. (NYSE:HPQ) Shares Bought by Montecito Bank & Trust

Montecito Bank & Trust increased its holdings in HP Inc. (NYSE:HPQ) by 59.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,144 shares of the computer maker’s stock after acquiring an additional 10,145 shares during the quarter. Montecito Bank & Trust’s holdings in HP were worth $974,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. LVW Advisors LLC lifted its position in shares of HP by 1.2% during the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after purchasing an additional 278 shares during the last quarter. Castleview Partners LLC lifted its holdings in HP by 8.1% during the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock worth $138,000 after buying an additional 289 shares during the last quarter. Versant Capital Management Inc grew its position in shares of HP by 5.9% in the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after acquiring an additional 297 shares in the last quarter. WMG Financial Advisors LLC increased its holdings in shares of HP by 4.2% in the 2nd quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock valued at $274,000 after acquiring an additional 315 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its stake in HP by 4.3% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock worth $277,000 after purchasing an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

HPQ has been the subject of several recent research reports. Barclays lowered their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note 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 for the company. in a research report on Friday, September 27th. Loop Capital reduced their price objective on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, HP presently has an average rating of “Hold” and an average target price of $35.55.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the business’s 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Up 1.2 %

Shares of NYSE HPQ opened at $37.35 on Friday. The firm’s 50-day simple moving average is $35.72 and its 200 day simple moving average is $34.59. The stock has a market cap of $35.99 billion, a P/E ratio of 13.10, a P/E/G ratio of 2.46 and a beta of 1.07. HP Inc. has a fifty-two week low of $27.01 and a fifty-two week high of $39.52.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share 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 negative return on equity of 266.37% and a net margin of 5.33%. The company’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 earnings per share. On average, sell-side analysts anticipate that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has approved a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are 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.