7,289 Shares in HP Inc. (NYSE:HPQ) Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. purchased a new position in HP Inc. (NYSE:HPQ) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,289 shares of the computer maker’s stock, valued at approximately $255,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Stolper Co grew its stake in shares of HP by 3.3% in the 2nd quarter. Stolper Co now owns 207,878 shares of the computer maker’s stock worth $7,280,000 after buying an additional 6,575 shares during the last quarter. Dai ichi Life Insurance Company Ltd lifted its position in HP by 366.1% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 420,133 shares of the computer maker’s stock valued at $14,713,000 after acquiring an additional 330,000 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in HP by 6.7% in the 2nd quarter. HBK Sorce Advisory LLC now owns 11,918 shares of the computer maker’s stock valued at $417,000 after acquiring an additional 753 shares in the last quarter. Federated Hermes Inc. lifted its position in HP by 23.0% in the 2nd quarter. Federated Hermes Inc. now owns 453,375 shares of the computer maker’s stock valued at $15,877,000 after acquiring an additional 84,754 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its position in HP by 32.6% in the 2nd quarter. Meeder Advisory Services Inc. now owns 14,969 shares of the computer maker’s stock valued at $524,000 after acquiring an additional 3,679 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling 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 transaction of $7,013,373.16. Following the sale, the chief executive officer now directly 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. Insiders own 0.41% of the company’s stock.

HP Stock Performance

NYSE HPQ opened at $34.76 on Friday. The company has a market capitalization of $34.01 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07. The business’s fifty day moving average is $35.15 and its 200 day moving average is $33.04. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52.

HP (NYSE:HPQ) last released 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). The company 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share. On average, sell-side analysts forecast that HP Inc. will post 3.39 EPS for the current year.

HP announced that its board has approved a share buyback plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on HPQ shares. Morgan Stanley lowered their price objective on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Bank of America upped their price objective on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. upped their price objective on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. TD Cowen increased their price target on HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company increased their price target on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report 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 given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.55.

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.