Kentucky Retirement Systems Insurance Trust Fund Purchases 1,136 Shares of HP Inc. (NYSE:HPQ)

Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of HP Inc. (NYSE:HPQ) by 4.1% during the 3rd quarter, Holdings Channel reports. The firm owned 28,973 shares of the computer maker’s stock after purchasing an additional 1,136 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in HP were worth $1,039,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of HP in the 3rd quarter worth approximately $25,000. Triad Wealth Partners LLC bought a new stake in HP during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in HP in the second quarter worth $34,000. Wolff Wiese Magana LLC grew its stake in HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after purchasing an additional 518 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in shares of HP during the 3rd quarter valued at $37,000. 77.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HPQ has been the subject of several research reports. UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays reduced their target price 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. Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Tuesday, October 1st. Loop Capital dropped their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised their target price on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $35.55.

HP Stock Performance

Shares of HPQ opened at $36.72 on Monday. The stock has a market capitalization of $35.39 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.52. The stock’s 50-day simple moving average is $35.97 and its 200 day simple moving average is $35.08.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 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%. HP’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. On average, research analysts forecast that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has authorized a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at HP

In related 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 value of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

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.