HP Inc. (NYSE:HPQ) Shares Sold by Richardson Financial Services Inc.

Richardson Financial Services Inc. decreased its stake in HP Inc. (NYSE:HPQ) by 12.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,350 shares of the computer maker’s stock after selling 325 shares during the period. Richardson Financial Services Inc.’s holdings in HP were worth $82,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Treasurer of the State of North Carolina raised its stake in shares of HP by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 401,809 shares of the computer maker’s stock valued at $12,090,000 after purchasing an additional 4,102 shares during the period. Chris Bulman Inc acquired a new stake in HP during the 2nd quarter valued at $88,000. Daiwa Securities Group Inc. lifted its holdings in HP by 27.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock worth $3,213,000 after buying an additional 22,909 shares in the last quarter. State of Alaska Department of Revenue boosted its position in HP by 85.9% in the 1st quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock valued at $5,275,000 after buying an additional 80,670 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of HP by 1.4% during the first quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock valued at $85,193,000 after acquiring an additional 37,800 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays cut their price target on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Wells Fargo & Company increased their target price on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Loop Capital dropped their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Bank of America increased their price objective on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, TD Cowen upped their target price on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.55.

HP Stock Up 0.8 %

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 P/E/G ratio of 2.23 and a beta of 1.07. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52. The firm has a 50-day simple moving average of $35.19 and a 200 day simple moving average of $32.97.

HP (NYSE:HPQ) last posted 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). The company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. As a group, research analysts forecast that HP Inc. will post 3.39 EPS for the current fiscal year.

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