HP Inc. (NYSE:HPQ) Holdings Raised by Stolper Co

Stolper Co raised its stake in shares of HP Inc. (NYSE:HPQ) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,878 shares of the computer maker’s stock after purchasing an additional 6,575 shares during the quarter. HP comprises 2.6% of Stolper Co’s holdings, making the stock its 10th biggest position. Stolper Co’s holdings in HP were worth $7,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Securities Inc. acquired a new stake in HP during the 4th quarter worth about $135,000. Avantax Advisory Services Inc. increased its holdings in HP by 13.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 23,585 shares of the computer maker’s stock worth $710,000 after buying an additional 2,810 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in HP by 4.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 859,307 shares of the computer maker’s stock worth $25,693,000 after buying an additional 36,709 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in HP by 10.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 134,941 shares of the computer maker’s stock valued at $4,060,000 after acquiring an additional 12,378 shares during the period. Finally, Sound View Wealth Advisors Group LLC acquired a new stake in shares of HP in the fourth quarter worth $212,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other HP news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at approximately $2,335,450.36. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

HP Stock Up 0.7 %

HP stock opened at $33.32 on Friday. The firm has a market capitalization of $32.11 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 2.23 and a beta of 1.07. HP Inc. has a 52-week low of $25.22 and a 52-week high of $39.52. The company has a fifty day simple moving average of $35.29 and a 200-day simple moving average of $32.82.

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

HP declared that its board has authorized a share buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to buy up to 28.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

HPQ has been the subject of a number of research reports. Barclays decreased 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. Bank of America lifted their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Loop Capital dropped their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company increased their price target on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.55.

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.