Claro Advisors LLC Acquires 7,378 Shares of HP Inc. (NYSE:HPQ)

Claro Advisors LLC boosted its stake in shares of HP Inc. (NYSE:HPQ) by 119.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,541 shares of the computer maker’s stock after purchasing an additional 7,378 shares during the quarter. Claro Advisors LLC’s holdings in HP were worth $486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HPQ. Vanguard Group Inc. lifted its stake in shares of HP by 2.6% during 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 last quarter. Primecap Management Co. CA boosted its holdings in shares of HP by 6.2% during the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after acquiring an additional 1,319,731 shares during the period. LSV Asset Management grew its position in shares of 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 during the last quarter. Legal & General Group Plc increased its stake in shares of HP by 11.3% during the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock worth $375,079,000 after purchasing an additional 1,089,848 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings 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 purchasing an additional 287,861 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.

HP Stock Performance

Shares of HPQ opened at $37.28 on Friday. HP Inc. has a 52-week low of $25.67 and a 52-week high of $39.52. The firm has a market cap of $36.48 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.67 and a beta of 1.07. The business’s fifty day moving average is $35.36 and its 200-day moving average is $33.88.

HP (NYSE:HPQ) last released its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The business had revenue of $13.52 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. As a group, research analysts forecast that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HPQ shares. Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price objective on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Loop Capital decreased their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Bank of America downgraded 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 Friday, September 27th. Finally, Barclays cut their price target 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, HP has a consensus rating of “Hold” and a consensus price target of $35.55.

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.