Raymond James Trust N.A. Grows Position in HP Inc. (NYSE:HPQ)

Raymond James Trust N.A. increased its position in HP Inc. (NYSE:HPQ) by 22.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,687 shares of the computer maker’s stock after purchasing an additional 10,702 shares during the period. Raymond James Trust N.A.’s holdings in HP were worth $2,069,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of HP in the 1st quarter worth approximately $160,000. Epoch Investment Partners Inc. boosted its holdings in HP by 8.1% in the first quarter. Epoch Investment Partners Inc. now owns 20,599 shares of the computer maker’s stock worth $623,000 after acquiring an additional 1,549 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of HP by 3,567.3% in the first quarter. Lazard Asset Management LLC now owns 34,143 shares of the computer maker’s stock worth $1,030,000 after acquiring an additional 33,212 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of HP by 1.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,191,666 shares of the computer maker’s stock valued at $36,013,000 after acquiring an additional 15,675 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in shares of HP by 0.8% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 132,919 shares of the computer maker’s stock worth $4,017,000 after purchasing an additional 1,035 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HPQ shares. Barclays reduced their price objective 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. Loop Capital reduced their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Tuesday, October 1st. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. lowered their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.45.

Insider Buying and Selling at HP

In other 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 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 $99.48. The trade was a 100.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Up 0.6 %

NYSE HPQ opened at $38.13 on Friday. The firm has a market capitalization of $36.75 billion, a P/E ratio of 13.38, a PEG ratio of 2.61 and a beta of 1.07. The company has a 50-day moving average price of $36.36 and a 200-day moving average price of $35.35. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.52.

HP (NYSE:HPQ) last announced its earnings results 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 net margin of 5.33% and a negative return on equity of 266.37%. 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 prior year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts anticipate that HP Inc. will post 3.39 EPS for the current year.

HP declared that its Board of Directors has authorized a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.