Frank Rimerman Advisors LLC Purchases Shares of 17,733 HP Inc. (NYSE:HPQ)

Frank Rimerman Advisors LLC bought a new position in shares of HP Inc. (NYSE:HPQ) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,733 shares of the computer maker’s stock, valued at approximately $621,000.

A number of other large investors also recently modified their holdings of the stock. Sawyer & Company Inc grew its stake in shares of HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after purchasing an additional 900 shares during the period. Rise Advisors LLC increased its position in shares of HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in HP during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HP in the 2nd quarter valued at about $34,000. Finally, DecisionPoint Financial LLC acquired a new stake in shares of HP in the second quarter valued at approximately $43,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Up 1.0 %

Shares of NYSE:HPQ opened at $35.10 on Tuesday. The company’s fifty day moving average is $35.10 and its 200 day moving average is $33.09. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The stock has a market cap of $34.35 billion, a PE ratio of 11.86, a PEG ratio of 2.23 and a beta of 1.07.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS 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 during the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter last year, the business earned $0.86 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts anticipate that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Cowen lifted their target price on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Barclays reduced their price objective 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. Bank of America boosted their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, UBS Group upped their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. One 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. According to data from MarketBeat.com, HP presently has an average rating of “Hold” and an average 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.