Community Bank & Trust Waco Texas Boosts Stake in HP Inc. (NYSE:HPQ)

Community Bank & Trust Waco Texas lifted its position in shares of HP Inc. (NYSE:HPQ) by 16.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,254 shares of the computer maker’s stock after acquiring an additional 2,151 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in HP were worth $547,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of HP during the 3rd quarter worth about $25,000. Triad Wealth Partners LLC acquired a new position in shares of HP during the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HP during the 2nd quarter worth about $34,000. Wolff Wiese Magana LLC raised its position in shares of HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of HP during the 3rd quarter worth about $37,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HPQ has been the subject of a number of recent research reports. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Tuesday, October 1st. Morgan Stanley cut 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. JPMorgan Chase & Co. raised their price target on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. UBS Group raised their price target on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Barclays lowered 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.55.

HP Trading Down 1.5 %

HP stock opened at $37.11 on Wednesday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.52. The company has a market cap of $35.76 billion, a PE ratio of 13.02, a PEG ratio of 2.58 and a beta of 1.07. The company’s 50-day moving average is $35.80 and its two-hundred day moving average is $34.83.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. During the same period in the previous year, the company posted $0.86 earnings per share. HP’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts forecast that HP Inc. will post 3.39 EPS for the current year.

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

Insider Activity at HP

In related news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction that occurred 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 directly owns 3 shares of the company’s stock, valued at $99.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by insiders.

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.