Charles Schwab Investment Management Inc. Has $241.88 Million Holdings in HP Inc. (NYSE:HPQ)

Charles Schwab Investment Management Inc. raised its position in shares of HP Inc. (NYSE:HPQ) by 11.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,743,122 shares of the computer maker’s stock after acquiring an additional 678,985 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.70% of HP worth $241,876,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in HP in the third quarter worth approximately $25,000. Triad Wealth Partners LLC bought a new stake in shares of HP in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HP during the 2nd quarter valued at $34,000. Wolff Wiese Magana LLC boosted its stake in HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after acquiring an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in HP in the third quarter worth $37,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Trading Up 0.6 %

HPQ stock opened at $38.13 on Friday. The stock has a market cap of $36.75 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.61 and a beta of 1.07. The stock’s fifty day simple moving average is $36.36 and its two-hundred day simple moving average is $35.35. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.52.

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

HP declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to repurchase 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 Activity at HP

In related news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction that occurred 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 directly owns 3 shares in the company, valued at approximately $99.48. This represents a 100.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HPQ shares. UBS Group increased 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. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Friday, September 27th. Barclays lowered their target price 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. Citigroup cut 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. Finally, Morgan Stanley lowered their target price on shares of 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.45.

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.