8,696 Shares in HP Inc. (NYSE:HPQ) Acquired by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC purchased a new position in shares of HP Inc. (NYSE:HPQ) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,696 shares of the computer maker’s stock, valued at approximately $312,000.

Several other hedge funds have also recently added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC bought a new stake in HP in the 3rd quarter valued at about $25,000. Triad Wealth Partners LLC purchased a new stake in HP in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HP in the second quarter worth $34,000. Wolff Wiese Magana LLC increased its holdings in shares of HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after acquiring an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of HP during the third quarter valued at $37,000. Institutional investors own 77.53% of the company’s stock.

HP Stock Up 0.6 %

HPQ opened at $36.72 on Friday. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.52. The firm has a market cap of $35.39 billion, a P/E ratio of 12.88, a P/E/G ratio of 2.52 and a beta of 1.07. The business has a fifty day simple moving average of $35.97 and a 200-day simple moving average of $34.98.

HP (NYSE:HPQ) last released its quarterly earnings data 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). The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. Sell-side analysts expect that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its board has approved a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HPQ shares. Loop Capital lowered their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Barclays dropped their price objective on 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 lowered their target price on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Tuesday, October 1st. Finally, UBS Group increased their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.55.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 211,501 shares of the firm’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 sale, the chief executive officer now owns 3 shares in the company, valued at $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.41% of the company’s stock.

HP 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.