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

Aptus Capital Advisors LLC purchased a new stake in HP Inc. (NYSE:HPQ) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 8,696 shares of the computer maker’s stock, valued at approximately $312,000.

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

Insider Activity

In other news, CEO Enrique Lores sold 211,501 shares of the 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 transaction, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. This represents a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. UBS Group lifted 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. Loop Capital reduced their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Barclays cut their price objective 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 reduced 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 report on Thursday, August 29th. Finally, Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. 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 four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.55.

HP Stock Performance

Shares of HP stock opened at $36.72 on Friday. HP Inc. has a one year low of $27.42 and a one year high of $39.52. The company has a market capitalization of $35.39 billion, a PE ratio of 12.88, a P/E/G ratio of 2.52 and a beta of 1.07. The company has a 50-day simple moving average of $35.97 and a two-hundred day simple moving average of $34.98.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter in the prior year, the company earned $0.86 EPS. HP’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts predict that HP Inc. will post 3.39 earnings per share 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 buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.