KBC Group NV Has $52.04 Million Holdings in HP Inc. (NYSE:HPQ)

KBC Group NV lifted its position in shares of HP Inc. (NYSE:HPQ) by 22.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,450,885 shares of the computer maker’s stock after purchasing an additional 264,823 shares during the quarter. KBC Group NV owned 0.15% of HP worth $52,043,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HPQ. Ashton Thomas Securities LLC acquired a new position in HP during the 3rd quarter valued at about $25,000. Triad Wealth Partners LLC purchased a new position in shares of HP during the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HP during the second quarter worth $34,000. Wolff Wiese Magana LLC raised its position 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 buying an additional 518 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in HP during the 3rd quarter valued at $37,000. 77.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley lowered their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. UBS Group lifted their target price 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 lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, September 27th. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Tuesday, October 1st. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $35.55.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 3 shares in the company, valued at $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

HP Price Performance

Shares of NYSE HPQ opened at $36.50 on Friday. The stock has a market capitalization of $35.17 billion, a PE ratio of 12.81, a P/E/G ratio of 2.52 and a beta of 1.07. HP Inc. has a one year low of $27.42 and a one year high of $39.52. The business’s fifty day moving average price is $35.87 and its 200-day moving average price is $34.91.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). The business had revenue of $13.52 billion for 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%. HP’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. As a group, equities analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its board has approved a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.