Caprock Group LLC Raises Position in HP Inc. (NYSE:HPQ)

Caprock Group LLC boosted its holdings in HP Inc. (NYSE:HPQ - Free Report) by 74.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,041 shares of the computer maker's stock after buying an additional 62,323 shares during the period. Caprock Group LLC's holdings in HP were worth $5,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of HP in the first quarter worth approximately $160,000. Shell Asset Management Co. lifted its stake in HP by 14.1% during the first quarter. Shell Asset Management Co. now owns 68,833 shares of the computer maker's stock worth $2,080,000 after purchasing an additional 8,520 shares during the last quarter. Vident Advisory LLC boosted its holdings in shares of HP by 250.9% in the 1st quarter. Vident Advisory LLC now owns 182,217 shares of the computer maker's stock worth $5,507,000 after purchasing an additional 130,284 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of HP by 79.8% during the 1st quarter. CreativeOne Wealth LLC now owns 23,615 shares of the computer maker's stock valued at $713,000 after purchasing an additional 10,481 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of HP by 2.4% during the 1st quarter. Advisors Asset Management Inc. now owns 631,957 shares of the computer maker's stock valued at $19,098,000 after buying an additional 14,824 shares in the last quarter. Institutional investors own 77.53% of the company's stock.

HP Stock Performance

Shares of HP stock traded down $0.56 during midday trading on Tuesday, reaching $36.87. 4,664,929 shares of the company's stock traded hands, compared to its average volume of 7,738,904. The company has a market cap of $35.53 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The stock has a 50 day moving average of $36.10 and a 200-day moving average of $35.21. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.52.

HP (NYSE:HPQ - Get Free Report) last announced its 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). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. During the same period in the previous year, the firm posted $0.86 EPS. The company's revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its Board of Directors has initiated 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 stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm'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 completion of the transaction, the chief executive officer now owns 3 shares of the company's stock, valued at approximately $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HPQ has been the subject of several research reports. Bank of America lowered HP from a "buy" rating to a "neutral" rating and set a $37.00 target price for the company. in a research note on Friday, September 27th. UBS Group lifted their target price on shares of HP from $34.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. Loop Capital cut their price target on shares of 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. raised their price objective on HP from $38.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, August 23rd. Finally, Barclays lowered their target price on HP from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average 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.