WESPAC Advisors LLC Purchases Shares of 8,432 HP Inc. (HPQ)

WESPAC Advisors LLC purchased a new position in shares of HP Inc. (NYSE:HPQ) in the 3rd quarter, Holdings Channel reports. The firm purchased 8,432 shares of the computer maker’s stock, valued at approximately $217,000.

A number of other large investors also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new position in HP during the 1st quarter worth about $239,000. IFM Investors Pty Ltd lifted its stake in HP by 38.7% during the 2nd quarter. IFM Investors Pty Ltd now owns 74,078 shares of the computer maker’s stock worth $1,681,000 after acquiring an additional 20,669 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in HP by 127.6% during the 2nd quarter. DAVENPORT & Co LLC now owns 48,662 shares of the computer maker’s stock worth $1,104,000 after acquiring an additional 27,282 shares in the last quarter. Fulton Bank N.A. lifted its stake in HP by 8.7% during the 2nd quarter. Fulton Bank N.A. now owns 62,599 shares of the computer maker’s stock worth $1,420,000 after acquiring an additional 5,034 shares in the last quarter. Finally, Hexavest Inc. acquired a new position in HP during the 2nd quarter worth about $48,329,000. Institutional investors own 80.30% of the company’s stock.

In other news, COO Catherine A. Lesjak sold 693,594 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $25.78, for a total value of $17,880,853.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Several equities analysts recently issued reports on HPQ shares. Maxim Group increased their target price on HP from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. Argus reissued a “buy” rating on shares of HP in a research note on Monday, October 8th. Morgan Stanley increased their price target on HP from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, August 24th. Zacks Investment Research lowered HP from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Finally, Wells Fargo & Co increased their price target on HP from $21.00 to $26.00 and gave the company a “market perform” rating in a research report on Friday, August 24th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $27.44.

HPQ opened at $25.03 on Wednesday. HP Inc. has a one year low of $19.31 and a one year high of $27.08. The stock has a market capitalization of $38.97 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.58 and a beta of 1.50.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, August 23rd. The computer maker reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. HP had a negative return on equity of 130.47% and a net margin of 7.95%. The business had revenue of $14.59 billion for the quarter, compared to the consensus estimate of $14.29 billion. During the same quarter in the prior year, the business posted $0.43 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that HP Inc. will post 2.02 earnings per share for the current year.

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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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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