HP Inc. (NYSE:HPQ) Shares Acquired by Czech National Bank

Czech National Bank increased its position in shares of HP Inc. (NYSE:HPQ) by 21.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,343 shares of the computer maker’s stock after purchasing an additional 34,881 shares during the period. Czech National Bank’s holdings in HP were worth $7,150,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of HPQ. Bayesian Capital Management LP purchased a new position in shares of HP in the 4th quarter valued at about $6,644,000. Gotham Asset Management LLC raised its holdings in HP by 9.0% during the fourth quarter. Gotham Asset Management LLC now owns 430,990 shares of the computer maker’s stock worth $12,968,000 after purchasing an additional 35,715 shares in the last quarter. Optimist Retirement Group LLC purchased a new stake in shares of HP during the 4th quarter worth approximately $1,855,000. Quarry LP purchased a new stake in shares of HP during the 4th quarter worth approximately $87,000. Finally, Voisard Asset Management Group Inc. purchased a new position in shares of HP in the 4th quarter valued at $84,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the subject of a number of research reports. Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Tuesday, October 1st. Loop Capital reduced their target price on HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Barclays reduced their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. Finally, Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, HP has a consensus rating of “Hold” and a consensus target price of $35.55.

HP Stock Performance

Shares of HP stock opened at $36.75 on Friday. The company has a market cap of $35.96 billion, a P/E ratio of 12.42, a PEG ratio of 2.35 and a beta of 1.07. The firm has a fifty day moving average of $34.81 and a two-hundred day moving average of $33.53. HP Inc. has a one year low of $25.67 and a one year high of $39.52.

HP (NYSE:HPQ) 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 net margin of 5.33% and a negative return on equity of 266.37%. The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same quarter in the previous year, the business earned $0.86 EPS. HP’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities analysts predict that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its Board of Directors has approved a stock 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 buy up to 28.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other 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 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 $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 through this hyperlink. 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.