Aaron Wealth Advisors LLC Boosts Stock Position in HP Inc. (NYSE:HPQ)

Aaron Wealth Advisors LLC increased its stake in HP Inc. (NYSE:HPQ) by 33.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,552 shares of the computer maker’s stock after purchasing an additional 2,625 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in HP were worth $378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HPQ. Chris Bulman Inc purchased a new position in HP during the second quarter valued at approximately $88,000. Daiwa Securities Group Inc. grew its position in shares of HP by 27.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock valued at $3,213,000 after purchasing an additional 22,909 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of HP by 85.9% in the first quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock worth $5,275,000 after purchasing an additional 80,670 shares during the period. Swiss National Bank raised its position in shares of HP by 1.4% in the first quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock worth $85,193,000 after buying an additional 37,800 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new stake in HP during the second quarter valued at $621,000. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HPQ shares. Barclays decreased their target price on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. UBS Group raised their price objective 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. Loop Capital lowered their price target on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Tuesday, October 1st. Finally, Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Friday, September 27th. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.55.

Insider Transactions at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of HPQ opened at $37.28 on Friday. The firm’s 50-day simple moving average is $35.36 and its two-hundred day simple moving average is $33.85. HP Inc. has a fifty-two week low of $25.67 and a fifty-two week high of $39.52. The stock has a market cap of $36.48 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 2.67 and a beta of 1.07.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations 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 period last year, the company posted $0.86 earnings per share. Equities research analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors 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.