Charles Schwab Investment Management Inc. Purchases 678,985 Shares of HP Inc. (NYSE:HPQ)

Charles Schwab Investment Management Inc. increased its position in HP Inc. (NYSE:HPQ - Free Report) by 11.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,743,122 shares of the computer maker's stock after acquiring an additional 678,985 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.70% of HP worth $241,876,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in HP during the third quarter worth $25,000. Triad Wealth Partners LLC bought a new stake in shares of HP in the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HP during the second quarter worth about $34,000. Wolff Wiese Magana LLC increased its stake in HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker's stock valued at $35,000 after acquiring an additional 518 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in HP in the 3rd quarter valued at approximately $37,000. 77.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on HP from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 29th. Loop Capital dropped their price objective on shares of HP from $37.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, September 5th. 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 report on Friday, September 27th. UBS Group upped their target price on shares of HP from $34.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, August 29th. Finally, Barclays cut their price target 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $35.45.

Insider Buying and Selling

In related news, CEO Enrique Lores sold 211,501 shares of HP 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 completion of the sale, the chief executive officer now directly owns 3 shares in the company, valued at $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 can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

HP Trading Up 0.6 %

NYSE HPQ traded up $0.22 during trading hours on Friday, reaching $38.13. 6,961,129 shares of the company's stock were exchanged, compared to its average volume of 6,401,251. The firm has a fifty day moving average of $36.36 and a 200-day moving average of $35.40. HP Inc. has a one year low of $27.42 and a one year high of $39.52. The stock has a market cap of $36.75 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.61 and a beta of 1.07.

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 business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same quarter last year, the business posted $0.86 earnings per share. The business's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, research analysts forecast that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

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.