Stolper Co Has $7.29 Million Stock Position in HP Inc. (NYSE:HPQ)

Stolper Co lowered its holdings in shares of HP Inc. (NYSE:HPQ) by 2.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 203,281 shares of the computer maker’s stock after selling 4,597 shares during the period. HP comprises 2.4% of Stolper Co’s holdings, making the stock its 12th largest holding. Stolper Co’s holdings in HP were worth $7,292,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of HPQ. Bayesian Capital Management LP bought a new position in HP during the fourth quarter worth $6,644,000. Gotham Asset Management LLC increased its stake in HP by 9.0% in the fourth quarter. Gotham Asset Management LLC now owns 430,990 shares of the computer maker’s stock valued at $12,968,000 after purchasing an additional 35,715 shares in the last quarter. Optimist Retirement Group LLC bought a new stake in HP in the fourth quarter valued at $1,855,000. Quarry LP bought a new stake in HP in the fourth quarter valued at $87,000. Finally, Voisard Asset Management Group Inc. bought a new stake in HP in the fourth quarter valued at $84,000. Institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of HP stock opened at $37.11 on Friday. HP Inc. has a 52-week low of $25.67 and a 52-week high of $39.52. The stock has a market capitalization of $35.76 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 2.67 and a beta of 1.07. The company has a fifty day moving average of $34.84 and a 200-day moving average of $33.56.

HP (NYSE:HPQ) last announced its quarterly 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 net margin of 5.33% and a negative return on equity of 266.37%. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same period in the previous year, the company earned $0.86 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its board has initiated a share repurchase program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Bank of America 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 Friday, September 27th. Finally, Barclays cut their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.55.

Insider Buying and Selling

In other HP 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 approximately $99.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by company insiders.

HP 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.