Foster & Motley Inc. Buys 23,977 Shares of HP Inc. (NYSE:HPQ)

Foster & Motley Inc. raised its holdings in HP Inc. (NYSE:HPQ - Free Report) by 11.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,114 shares of the computer maker's stock after purchasing an additional 23,977 shares during the period. Foster & Motley Inc.'s holdings in HP were worth $8,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Chris Bulman Inc bought a new position in HP in the 2nd quarter worth about $88,000. Swiss National Bank boosted its position in shares of HP by 1.4% in the first quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker's stock valued at $85,193,000 after acquiring an additional 37,800 shares during the period. Frank Rimerman Advisors LLC purchased a new position in HP during the second quarter valued at approximately $621,000. Cetera Investment Advisers increased its holdings in HP by 154.7% during the 1st quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker's stock worth $3,309,000 after acquiring an additional 66,510 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in HP by 11.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 193,700 shares of the computer maker's stock worth $6,947,000 after purchasing an additional 19,845 shares in the last quarter. Institutional investors own 77.53% of the company's stock.

HP Stock Performance

Shares of HPQ stock traded up $0.27 on Wednesday, hitting $36.91. 9,568,569 shares of the company's stock traded hands, compared to its average volume of 7,784,026. The stock has a market capitalization of $35.57 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 2.48 and a beta of 1.07. The company's fifty day simple moving average is $35.68 and its 200 day simple moving average is $34.57. HP Inc. has a one year low of $27.01 and a one year high of $39.52.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS 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 during the quarter, compared to analysts' expectations of $13.37 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. The firm'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 fiscal year.

HP declared that its board has initiated a stock buyback plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have recently commented on HPQ. JPMorgan Chase & Co. boosted their price target on shares of HP from $38.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, August 23rd. Barclays decreased their target price on HP from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 29th. Loop Capital dropped their price target on HP from $37.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, September 5th. UBS Group boosted their price objective on HP from $34.00 to $37.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Finally, Bank of America downgraded shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 target price on the stock. in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, HP presently has a consensus rating of "Hold" and an average price target of $35.55.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm's 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 sale, the chief executive officer now owns 3 shares of the company's stock, valued at $99.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is owned by insiders.

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.