Barnett & Company Inc. Purchases 19,260 Shares of HP Inc. (NYSE:HPQ)

Barnett & Company Inc. raised its position in HP Inc. (NYSE:HPQ) by 23.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,550 shares of the computer maker’s stock after purchasing an additional 19,260 shares during the quarter. HP accounts for about 2.4% of Barnett & Company Inc.’s holdings, making the stock its 12th biggest holding. Barnett & Company Inc.’s holdings in HP were worth $3,643,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its stake in HP by 24.9% during the first quarter. Oppenheimer & Co. Inc. now owns 26,995 shares of the computer maker’s stock worth $816,000 after buying an additional 5,380 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of HP in the 1st quarter valued at about $373,000. Russell Investments Group Ltd. lifted its stake in shares of HP by 49.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,991,791 shares of the computer maker’s stock valued at $60,187,000 after purchasing an additional 658,037 shares during the period. US Bancorp DE grew its stake in HP by 11.1% during the first quarter. US Bancorp DE now owns 286,388 shares of the computer maker’s stock worth $8,655,000 after purchasing an additional 28,694 shares during the period. Finally, ProShare Advisors LLC increased its holdings in HP by 10.3% in the first quarter. ProShare Advisors LLC now owns 457,563 shares of the computer maker’s stock worth $13,828,000 after purchasing an additional 42,799 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Trading Down 0.2 %

HP stock traded down $0.07 during trading on Tuesday, hitting $37.60. 1,263,168 shares of the company were exchanged, compared to its average volume of 7,745,585. The company has a market capitalization of $36.24 billion, a P/E ratio of 13.22, a PEG ratio of 2.52 and a beta of 1.07. The business’s 50 day moving average is $35.80 and its 200 day moving average is $34.83. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.52.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate 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. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts expect that HP Inc. will post 3.39 EPS for the current year.

HP announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on HPQ shares. Barclays reduced their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. UBS Group lifted their price target on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. increased their price objective 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. Loop Capital decreased their target price on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Finally, Morgan Stanley cut their price target on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock 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 assigned a buy rating to the company. According to MarketBeat.com, HP presently has a consensus rating of “Hold” and an average target price of $35.55.

Insider Activity

In related news, CEO Enrique Lores sold 211,501 shares of HP 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 directly owns 3 shares in the company, valued at approximately $99.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

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.