Community Bank & Trust Waco Texas Increases Stock Position in HP Inc. (NYSE:HPQ)

Community Bank & Trust Waco Texas grew its stake in shares of HP Inc. (NYSE:HPQ) by 16.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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.

Several other large investors also recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new position in HP in the 3rd quarter worth approximately $25,000. Triad Wealth Partners LLC bought a new stake in HP during the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HP during the second quarter valued at about $34,000. Wolff Wiese Magana LLC raised its stake in shares of HP by 115.1% in the third 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 purchased a new position in shares of HP in the third quarter worth about $37,000. 77.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HPQ has been the topic of a number of research analyst reports. Bank of America downgraded 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 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. Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Tuesday, October 1st. Barclays cut their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Finally, UBS Group raised their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.55.

HP Price Performance

NYSE:HPQ opened at $37.11 on Wednesday. The company has a market capitalization of $35.76 billion, a P/E ratio of 13.02, a P/E/G ratio of 2.58 and a beta of 1.07. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.52. The business has a fifty day simple moving average of $35.80 and a two-hundred day simple moving average of $34.83.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) 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 the consensus estimate of $13.37 billion. During the same period last year, the firm earned $0.86 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

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

Insider Activity at HP

In other news, CEO Enrique Lores sold 211,501 shares of the 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 transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by 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.