Farther Finance Advisors LLC Grows Holdings in HP Inc. (NYSE:HPQ)

Farther Finance Advisors LLC raised its position in HP Inc. (NYSE:HPQ) by 8.0% in the third quarter, Holdings Channel reports. The institutional investor owned 21,859 shares of the computer maker’s stock after purchasing an additional 1,621 shares during the period. Farther Finance Advisors LLC’s holdings in HP were worth $784,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HPQ. Norden Group LLC purchased a new position in HP in the first quarter valued at $665,000. Private Advisor Group LLC increased its holdings in HP by 5.5% in the first quarter. Private Advisor Group LLC now owns 80,940 shares of the computer maker’s stock valued at $2,446,000 after buying an additional 4,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of HP by 11.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 268,807 shares of the computer maker’s stock valued at $7,611,000 after purchasing an additional 28,252 shares during the period. Janney Montgomery Scott LLC grew its position in shares of HP by 6.7% in the first quarter. Janney Montgomery Scott LLC now owns 143,932 shares of the computer maker’s stock valued at $4,350,000 after purchasing an additional 8,991 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of HP in the first quarter valued at about $129,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on HPQ shares. UBS Group lifted their target price on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. 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. Morgan Stanley dropped their target price 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. JPMorgan Chase & Co. boosted their price target on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Loop Capital lowered their price target 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, HP has an average rating of “Hold” and an average target price of $35.55.

Insider Buying and Selling at HP

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 sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.

HP Price Performance

NYSE:HPQ opened at $35.99 on Tuesday. The firm has a market capitalization of $34.68 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.59 and a beta of 1.07. The company’s 50-day moving average is $35.66 and its two-hundred day moving average is $34.51. HP Inc. has a 1-year low of $27.01 and a 1-year high of $39.52.

HP (NYSE:HPQ) last posted its earnings results 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 firm 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%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, equities analysts anticipate that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has initiated a share 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 generally a sign that the company’s board believes its shares are undervalued.

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.