IFM Investors Pty Ltd Acquires 1,735 Shares of HP Inc. (NYSE:HPQ)

IFM Investors Pty Ltd grew its stake in HP Inc. (NYSE:HPQ) by 0.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 214,297 shares of the computer maker’s stock after purchasing an additional 1,735 shares during the quarter. IFM Investors Pty Ltd’s holdings in HP were worth $7,687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. LVW Advisors LLC boosted its position in HP by 1.2% during the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after purchasing an additional 278 shares during the last quarter. Castleview Partners LLC boosted its holdings in shares of HP by 8.1% in the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after buying an additional 289 shares during the last quarter. Versant Capital Management Inc grew 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 valued at $191,000 after buying an additional 297 shares in the last quarter. WMG Financial Advisors LLC increased its holdings in HP by 4.2% during the second quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock worth $274,000 after buying an additional 315 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in HP by 2.9% during the second quarter. J.W. Cole Advisors Inc. now owns 12,296 shares of the computer maker’s stock worth $431,000 after acquiring an additional 345 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Loop Capital lowered their price objective 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. JPMorgan Chase & Co. upped their price objective on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. UBS Group lifted their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley dropped their price target on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, Barclays reduced their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.55.

HP Trading Up 1.1 %

NYSE HPQ opened at $36.88 on Friday. The company has a market cap of $35.54 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.64 and a beta of 1.07. The company has a 50 day moving average of $35.48 and a 200-day moving average of $34.04. HP Inc. has a 1-year low of $25.67 and a 1-year high of $39.52.

HP (NYSE:HPQ) last announced its quarterly earnings data 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). The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. On average, equities research analysts forecast 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 repurchase program on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred 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 directly owns 3 shares in the company, valued at approximately $99.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.