Amalgamated Bank Has $7.02 Million Position in HP Inc. (NYSE:HPQ)

Amalgamated Bank raised its stake in shares of HP Inc. (NYSE:HPQ) by 6.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 195,618 shares of the computer maker’s stock after purchasing an additional 11,458 shares during the period. Amalgamated Bank’s holdings in HP were worth $7,017,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Greenwood Capital Associates LLC grew its stake in HP by 2.8% in the 3rd quarter. Greenwood Capital Associates LLC now owns 34,832 shares of the computer maker’s stock valued at $1,249,000 after buying an additional 953 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in HP during the third quarter valued at about $63,000. Asset Management One Co. Ltd. grew its position in shares of HP by 3.9% in the third quarter. Asset Management One Co. Ltd. now owns 391,224 shares of the computer maker’s stock valued at $14,033,000 after purchasing an additional 14,655 shares during the last quarter. National Pension Service increased its stake in shares of HP by 24.1% in the third quarter. National Pension Service now owns 2,162,772 shares of the computer maker’s stock worth $77,579,000 after purchasing an additional 419,774 shares during the period. Finally, Intact Investment Management Inc. acquired a new position in shares of HP during the 3rd quarter worth about $1,614,000. Institutional investors own 77.53% of the company’s stock.

HP Trading Up 0.7 %

HPQ stock opened at $36.91 on Thursday. The business’s 50 day moving average is $35.72 and its 200-day moving average is $34.59. HP Inc. has a 1-year low of $27.01 and a 1-year high of $39.52. The firm has a market cap of $35.57 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.46 and a beta of 1.07.

HP (NYSE:HPQ) last posted 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). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same period in the previous year, the business posted $0.86 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts forecast that HP Inc. will post 3.39 EPS for the current year.

HP announced that its board has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HPQ. UBS Group raised their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a 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 reduced their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Tuesday, October 1st. Finally, 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 research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, HP has an average rating of “Hold” and an average target price of $35.55.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction on 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.