Greenleaf Trust Acquires 1,005 Shares of HP Inc. (NYSE:HPQ)

Greenleaf Trust grew its holdings in shares of HP Inc. (NYSE:HPQ) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,660 shares of the computer maker’s stock after acquiring an additional 1,005 shares during the period. Greenleaf Trust’s holdings in HP were worth $1,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of HPQ. Vanguard Group Inc. boosted its holdings in HP by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after buying an additional 3,062,441 shares during the period. Primecap Management Co. CA boosted its holdings in HP by 6.2% in the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after buying an additional 1,319,731 shares during the period. LSV Asset Management boosted its holdings in HP by 3.3% in the 1st quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock worth $383,028,000 after buying an additional 403,355 shares during the period. Legal & General Group Plc boosted its holdings 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 worth $375,079,000 after buying an additional 1,089,848 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in HP by 3.5% in 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 during the period. Institutional investors own 77.53% of the company’s stock.

HP Trading Up 1.7 %

Shares of NYSE HPQ opened at $36.47 on Friday. The firm’s 50-day moving average price is $35.46 and its 200-day moving average price is $34.02. The stock has a market capitalization of $35.69 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 2.67 and a beta of 1.07. HP Inc. has a 12-month low of $25.67 and a 12-month high of $39.52.

HP (NYSE:HPQ) last announced its earnings results 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). 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 quarter in the prior year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities analysts predict that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several recent analyst reports. Barclays dropped their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Morgan Stanley decreased their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Friday, September 27th. Loop Capital decreased their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Tuesday, October 1st. One investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.55.

Insider Buying and Selling

In related 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 sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

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.