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

Meeder Advisory Services Inc. lifted its position in shares of HP Inc. (NYSE:HPQ) by 12.8% during the third quarter, Holdings Channel reports. The firm owned 16,892 shares of the computer maker’s stock after acquiring an additional 1,923 shares during the quarter. Meeder Advisory Services Inc.’s holdings in HP were worth $606,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wedge Capital Management L L P NC purchased a new position in HP during the 2nd quarter worth $62,672,000. DME Capital Management LP increased its stake in shares of HP by 108.7% during the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock worth $118,124,000 after acquiring an additional 1,757,070 shares during the period. Primecap Management Co. CA lifted its position in HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock valued at $786,237,000 after purchasing an additional 1,319,731 shares during the period. Legal & General Group Plc boosted its holdings in HP by 11.3% in the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after purchasing an additional 1,089,848 shares in the last quarter. Finally, Westwood Holdings Group Inc. acquired a new position in HP during the 2nd quarter worth approximately $38,044,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at HP

In related news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. This represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is owned by insiders.

HP Price Performance

HPQ stock opened at $36.87 on Wednesday. The company’s 50 day simple moving average is $36.10 and its 200-day simple moving average is $35.21. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.52. The firm has a market capitalization of $35.53 billion, a PE ratio of 12.94, a P/E/G ratio of 2.51 and a beta of 1.07.

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). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same period in the previous year, the business posted $0.86 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to buy up to 28.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

HPQ has been the subject of several recent analyst reports. UBS Group lifted their price target on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Barclays decreased their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research 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 target for the company. in a report on Friday, September 27th. Loop Capital decreased their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock 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 report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.