ORG Wealth Partners LLC Makes New Investment in HP Inc. (NYSE:HPQ)

ORG Wealth Partners LLC purchased a new stake in HP Inc. (NYSE:HPQ) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,027 shares of the computer maker’s stock, valued at approximately $37,000.

A number of other institutional investors also recently modified their holdings of HPQ. Vanguard Group Inc. lifted its stake in HP by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after acquiring an additional 3,062,441 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after purchasing an additional 1,319,731 shares in the last quarter. LSV Asset Management grew its position in HP by 3.3% in the first quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock valued at $383,028,000 after purchasing an additional 403,355 shares in the last quarter. Legal & General Group Plc increased its stake in HP by 11.3% in the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after buying an additional 1,089,848 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in HP by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock worth $294,253,000 after buying an additional 287,861 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

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 stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the sale, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the topic of a number of recent research reports. Barclays lowered their target price on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley decreased their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. UBS Group upped their price target 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. Finally, Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Friday, September 27th. One 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, the stock currently has an average rating of “Hold” and an average price target of $35.55.

HP Stock Down 1.3 %

HP stock opened at $36.97 on Wednesday. HP Inc. has a twelve month low of $25.67 and a twelve month high of $39.52. The stock has a market cap of $36.18 billion, a P/E ratio of 12.49, a P/E/G ratio of 2.67 and a beta of 1.07. The company’s 50-day moving average price is $35.09 and its two-hundred day moving average price is $33.75.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same period in the previous year, the business posted $0.86 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts anticipate that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its Board of Directors has initiated a share repurchase 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 repurchase up to 28.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is 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.