HP Inc. (NYSE:HPQ) Shares Purchased by Atomi Financial Group Inc.

Atomi Financial Group Inc. raised its position in HP Inc. (NYSE:HPQ) by 6.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 7,013 shares of the computer maker’s stock after purchasing an additional 400 shares during the period. Atomi Financial Group Inc.’s holdings in HP were worth $252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in shares of HP by 5.9% in the third quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after buying an additional 297 shares in the last quarter. WMG Financial Advisors LLC boosted its holdings in shares of HP by 4.2% during the 2nd quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock worth $274,000 after purchasing an additional 315 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in shares of HP by 2.9% in the second quarter. J.W. Cole Advisors Inc. now owns 12,296 shares of the computer maker’s stock valued at $431,000 after purchasing an additional 345 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of HP by 11.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,568 shares of the computer maker’s stock valued at $125,000 after purchasing an additional 372 shares during the last quarter. Finally, Jacobi Capital Management LLC lifted its position in HP by 1.2% during the first quarter. Jacobi Capital Management LLC now owns 34,228 shares of the computer maker’s stock worth $1,034,000 after buying an additional 390 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HPQ shares. Barclays dropped their target price on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. UBS Group raised their price objective on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price target on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $35.55.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’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 $99.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.41% of the stock is owned by company insiders.

HP Stock Up 0.7 %

HPQ opened at $37.01 on Monday. The firm has a market cap of $36.22 billion, a P/E ratio of 12.50, a P/E/G ratio of 2.67 and a beta of 1.07. HP Inc. has a 52 week low of $25.67 and a 52 week high of $39.52. The business has a fifty day simple moving average of $34.91 and a 200-day simple moving average of $33.66.

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). The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. Sell-side analysts expect that HP Inc. will post 3.39 earnings per share 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 reacquire 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.

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.