FCG Investment Co Takes Position in HP Inc. (NYSE:HPQ)

FCG Investment Co acquired a new stake in HP Inc. (NYSE:HPQ) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 11,005 shares of the computer maker’s stock, valued at approximately $395,000.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in HP by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after purchasing an additional 3,062,441 shares during the last quarter. Primecap Management Co. CA lifted its stake in HP by 6.2% in the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock valued at $786,237,000 after purchasing an additional 1,319,731 shares during the last quarter. LSV Asset Management lifted its stake in HP by 3.3% in the 1st quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock valued at $383,028,000 after purchasing an additional 403,355 shares during the last quarter. Legal & General Group Plc lifted its stake in HP by 11.3% in the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after purchasing an additional 1,089,848 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in HP by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock valued at $294,253,000 after purchasing an additional 287,861 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HPQ has been the subject of several recent analyst reports. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Tuesday, October 1st. UBS Group raised their price objective on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Morgan Stanley cut their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Barclays cut 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. Finally, Loop Capital cut their price objective 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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 shares were 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 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 filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by insiders.

HP Price Performance

Shares of NYSE:HPQ opened at $37.02 on Monday. The company’s 50 day simple moving average is $35.50 and its 200 day simple moving average is $34.16. The stock has a market capitalization of $36.23 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 2.64 and a beta of 1.07. HP Inc. has a 1 year low of $25.90 and a 1 year high of $39.52.

HP (NYSE:HPQ) last announced its quarterly earnings data 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). The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate 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 was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.86 earnings per share. As a group, analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its board has authorized 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 typically an indication that the company’s board believes its stock is undervalued.

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.