Blair William & Co. IL Increases Stock Position in HP Inc. (NYSE:HPQ)

Blair William & Co. IL lifted its holdings in shares of HP Inc. (NYSE:HPQ) by 3.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 292,459 shares of the computer maker’s stock after buying an additional 9,391 shares during the period. Blair William & Co. IL’s holdings in HP were worth $10,242,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Janney Montgomery Scott LLC lifted its holdings in HP by 10.1% in the fourth 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. Norges Bank acquired a new stake in shares of HP in the fourth quarter valued at about $187,264,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in HP by 2.7% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 29,208 shares of the computer maker’s stock worth $879,000 after buying an additional 756 shares in the last quarter. Wells Fargo & Company MN grew its position in HP by 42.1% during the fourth quarter. Wells Fargo & Company MN now owns 1,672,097 shares of the computer maker’s stock worth $50,313,000 after buying an additional 495,332 shares during the period. Finally, Corient Private Wealth LLC increased its holdings in HP by 0.4% in the fourth quarter. Corient Private Wealth LLC now owns 293,388 shares of the computer maker’s stock valued at $8,828,000 after buying an additional 1,197 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Price Performance

Shares of NYSE HPQ opened at $34.82 on Friday. The company has a market cap of $34.07 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07. The company has a 50-day simple moving average of $35.19 and a 200-day simple moving average of $32.97. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52.

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

HP announced that its board has approved a share repurchase program on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HPQ. Barclays lowered their price target on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. UBS Group upped their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company increased their price objective on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Finally, Loop Capital dropped their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.55.

Insider Buying and Selling

In other news, CEO Enrique Lores sold 211,501 shares of the company’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 transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.

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.