Pacer Advisors Inc. Boosts Stock Position in HP Inc. (NYSE:HPQ)

Pacer Advisors Inc. increased its holdings in HP Inc. (NYSE:HPQ - Free Report) by 11.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,184,306 shares of the computer maker's stock after acquiring an additional 1,455,138 shares during the quarter. HP makes up about 1.1% of Pacer Advisors Inc.'s investment portfolio, making the stock its 12th largest position. Pacer Advisors Inc. owned approximately 1.47% of HP worth $508,791,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC bought a new position in shares of HP during the third quarter valued at approximately $25,000. Triad Wealth Partners LLC purchased a new stake in shares of HP during the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in HP in the second quarter valued at about $34,000. Wolff Wiese Magana LLC lifted its position in shares of 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 buying an additional 518 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of HP in the 3rd quarter valued at about $37,000. 77.53% of the stock is currently owned by institutional investors.

Insider Transactions at HP

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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.41% of the company's stock.

HP Price Performance

Shares of NYSE HPQ traded up $1.25 during mid-day trading on Thursday, hitting $37.93. The company had a trading volume of 3,849,478 shares, compared to its average volume of 7,718,643. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.52. The company has a market capitalization of $36.55 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07. The business's 50-day simple moving average is $36.17 and its 200 day simple moving average is $35.22.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $13.37 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The business's quarterly revenue was up 2.4% compared to the same quarter last year. On average, analysts expect that HP Inc. will post 3.39 EPS for the current year.

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

Analyst Upgrades and Downgrades

HPQ has been the topic of several analyst reports. UBS Group lifted their price target on shares of HP from $34.00 to $37.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Barclays lowered their target price 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. Morgan Stanley cut their price target on shares of HP from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 29th. JPMorgan Chase & Co. lowered their price objective on shares of HP from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Bank of America downgraded HP from a "buy" rating to a "neutral" rating and set a $37.00 target price on the stock. in a research report on Friday, September 27th. One equities 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 stock. According to MarketBeat.com, HP presently has an average rating of "Hold" and a consensus price target of $35.45.

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.