National Pension Service Raises Position in HP Inc. (NYSE:HPQ)

National Pension Service lifted its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 24.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,162,772 shares of the computer maker's stock after buying an additional 419,774 shares during the period. National Pension Service owned approximately 0.22% of HP worth $77,579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in shares of HP during the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP in the 2nd quarter valued at approximately $34,000. Wolff Wiese Magana LLC raised its stake in shares of HP by 115.1% in the 3rd 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. ORG Wealth Partners LLC purchased a new stake in HP during the 3rd quarter worth approximately $37,000. Finally, DecisionPoint Financial LLC acquired a new stake in HP during the 2nd quarter worth approximately $43,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HPQ shares. UBS Group increased their target price on shares of HP from $34.00 to $37.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Morgan Stanley reduced their target price on shares of HP from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Thursday, August 29th. Citigroup lowered shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price objective on the stock. in a report on Tuesday, October 1st. Barclays reduced their price objective on shares of HP from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Thursday, August 29th. Finally, Loop Capital reduced 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, HP currently has a consensus rating of "Hold" and a consensus price target of $35.55.

HP Trading Up 0.7 %

NYSE:HPQ traded up $0.27 during midday trading on Wednesday, hitting $36.91. 9,562,705 shares of the company were exchanged, compared to its average volume of 5,799,837. The company has a fifty day simple moving average of $35.72 and a 200 day simple moving average of $34.59. HP Inc. has a fifty-two week low of $27.01 and a fifty-two week high of $39.52. The company has a market capitalization of $35.57 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.46 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 earnings per share (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 business 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 earnings per share. The company's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities research analysts expect that HP Inc. will post 3.39 EPS for the current year.

HP announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership 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 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 directly owns 3 shares of the company's stock, valued at approximately $99.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by insiders.

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.