HP Inc. (NYSE:HPQ) Shares Purchased by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC lifted its holdings in shares of HP Inc. (NYSE:HPQ) by 31.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,904 shares of the computer maker’s stock after buying an additional 690 shares during the period. Hexagon Capital Partners LLC’s holdings in HP were worth $104,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of HPQ. Versant Capital Management Inc raised its position in HP by 5.9% in the third quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after acquiring an additional 297 shares in the last quarter. WMG Financial Advisors LLC lifted its stake in shares of HP by 4.2% in the second quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock valued at $274,000 after purchasing an additional 315 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in HP by 2.9% during the second quarter. J.W. Cole Advisors Inc. now owns 12,296 shares of the computer maker’s stock worth $431,000 after buying an additional 345 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in HP by 11.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,568 shares of the computer maker’s stock worth $125,000 after buying an additional 372 shares in the last quarter. Finally, Jacobi Capital Management LLC grew its position in HP by 1.2% during the first quarter. Jacobi Capital Management LLC now owns 34,228 shares of the computer maker’s stock worth $1,034,000 after buying an additional 390 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Stock Performance

Shares of HPQ stock opened at $36.75 on Friday. The firm has a market capitalization of $35.96 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 2.35 and a beta of 1.07. HP Inc. has a one year low of $25.67 and a one year high of $39.52. The company has a 50 day moving average price of $34.81 and a 200 day moving average price of $33.53.

HP (NYSE:HPQ) last issued 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). 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 during the quarter, compared to analysts’ expectations of $13.37 billion. During the same period last year, the business posted $0.86 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts forecast that HP Inc. will post 3.39 EPS 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 shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the topic of a number of research reports. Barclays lowered their price target on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Morgan Stanley lowered their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Friday, September 27th. JPMorgan Chase & Co. increased their price objective on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Loop Capital cut their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. One equities research 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. According to MarketBeat.com, HP has an average rating of “Hold” and a consensus target price of $35.55.

HP Company 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.