First Horizon Advisors Inc. Purchases 18,665 Shares of HP Inc. (NYSE:HPQ)

First Horizon Advisors Inc. increased its holdings in HP Inc. (NYSE:HPQ - Free Report) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 567,799 shares of the computer maker's stock after acquiring an additional 18,665 shares during the quarter. First Horizon Advisors Inc. owned about 0.06% of HP worth $20,367,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its position in shares of HP by 0.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 641,409 shares of the computer maker's stock valued at $23,007,000 after buying an additional 2,120 shares in the last quarter. Commerce Bank boosted its holdings in HP by 1.7% in the 3rd quarter. Commerce Bank now owns 387,836 shares of the computer maker's stock worth $13,912,000 after buying an additional 6,458 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in HP during the 3rd quarter worth about $1,028,000. Avior Wealth Management LLC raised its stake in HP by 19.8% during the 3rd quarter. Avior Wealth Management LLC now owns 11,501 shares of the computer maker's stock worth $413,000 after acquiring an additional 1,898 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of HP by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 412,372 shares of the computer maker's stock worth $14,792,000 after purchasing an additional 4,028 shares in the last quarter. 77.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays dropped their price target on HP from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 29th. Loop Capital lowered their target price on shares of HP from $37.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, September 5th. UBS Group raised their target price on HP from $34.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, August 29th. Morgan Stanley reduced their price objective on HP from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, August 29th. Finally, Bank of America lowered shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price target on the stock. in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, HP presently has a consensus rating of "Hold" and an average target price of $35.45.

HP Stock Down 0.5 %

HP stock traded down $0.17 during midday trading on Wednesday, reaching $36.70. The stock had a trading volume of 4,928,070 shares, compared to its average volume of 7,726,413. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.52. The company has a fifty day moving average of $36.10 and a 200 day moving average of $35.21. The firm has a market cap of $35.36 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07.

HP (NYSE:HPQ - Get Free Report) last issued 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). The business had revenue of $13.52 billion for the quarter, compared to analysts' expectations of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 EPS. Equities research analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has approved a stock repurchase program on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to buy up to 28.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction dated 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 directly owns 3 shares of the company's stock, valued at $99.48. This represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.41% of the company's stock.

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.