HP Inc. (NYSE:HPQ) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can boosted its stake in HP Inc. (NYSE:HPQ) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,290,565 shares of the computer maker’s stock after buying an additional 6,412 shares during the period. Bank of Montreal Can’s holdings in HP were worth $46,899,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Triad Wealth Partners LLC purchased a new stake in shares of HP in the 2nd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HP in the 2nd quarter valued at approximately $34,000. Sawyer & Company Inc raised its position in HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after purchasing an additional 900 shares during the period. Rise Advisors LLC lifted its stake in HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares in the last quarter. Finally, DecisionPoint Financial LLC purchased a new position in shares of HP during the second quarter worth $43,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HPQ shares. TD Cowen boosted their price objective on HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Barclays cut their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Bank of America lifted their price objective on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Loop Capital reduced their target price 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. Finally, UBS Group boosted their price target on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.55.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the company’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 completion of the transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.41% of the stock is owned by corporate insiders.

HP Trading Up 0.6 %

Shares of HPQ stock opened at $36.05 on Thursday. The company has a market cap of $35.28 billion, a P/E ratio of 12.18, a PEG ratio of 2.35 and a beta of 1.07. The firm has a fifty day moving average price of $35.06 and a 200 day moving average price of $33.13. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52.

HP (NYSE:HPQ) last released 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). The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. On average, equities analysts forecast that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has initiated a share repurchase 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 buy up to 28.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.