Crossmark Global Holdings Inc. Has $24.83 Million Holdings in HP Inc. (NYSE:HPQ)

Crossmark Global Holdings Inc. increased its holdings in HP Inc. (NYSE:HPQ) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 692,222 shares of the computer maker’s stock after buying an additional 6,201 shares during the period. Crossmark Global Holdings Inc. owned 0.07% of HP worth $24,830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Mesirow Financial Investment Management Inc. acquired a new stake in shares of HP during the 3rd quarter worth $244,000. Atria Investments Inc grew its stake in HP by 8.2% during the third quarter. Atria Investments Inc now owns 61,848 shares of the computer maker’s stock worth $2,218,000 after buying an additional 4,712 shares in the last quarter. Assetmark Inc. increased its holdings in HP by 40.8% in the 3rd quarter. Assetmark Inc. now owns 132,269 shares of the computer maker’s stock valued at $4,745,000 after buying an additional 38,331 shares during the period. Applied Finance Capital Management LLC raised its position in shares of HP by 0.3% in the 3rd quarter. Applied Finance Capital Management LLC now owns 1,766,422 shares of the computer maker’s stock valued at $63,362,000 after buying an additional 4,444 shares in the last quarter. Finally, Philip James Wealth Mangement LLC bought a new stake in shares of HP during the 3rd quarter worth approximately $14,205,000. 77.53% of the stock is currently owned by institutional investors.

HP Stock Down 1.4 %

HPQ traded down $0.52 during midday trading on Friday, hitting $36.82. 5,489,610 shares of the company were exchanged, compared to its average volume of 5,784,349. The firm has a market capitalization of $35.48 billion, a P/E ratio of 12.92, a P/E/G ratio of 2.53 and a beta of 1.07. The firm’s 50 day moving average price is $35.77 and its 200-day moving average price is $34.67. HP Inc. has a 1-year low of $27.01 and a 1-year high of $39.52.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its board has initiated a share buyback 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 reacquire up to 28.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HPQ. Loop Capital lowered 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. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, September 27th. UBS Group boosted their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley dropped 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 note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $35.55.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of the company’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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is 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.