6,056 Shares in HP Inc. (NYSE:HPQ) Bought by PVG Asset Management Corp

PVG Asset Management Corp acquired a new stake in shares of HP Inc. (NYSE:HPQ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,056 shares of the computer maker’s stock, valued at approximately $212,000.

Several other large investors have also modified their holdings of the stock. Cetera Investment Advisers increased its holdings in shares of HP by 14.5% in the 2nd quarter. Cetera Investment Advisers now owns 125,398 shares of the computer maker’s stock valued at $4,391,000 after acquiring an additional 15,905 shares during the last quarter. Truist Financial Corp raised its stake in HP by 4.5% during the second quarter. Truist Financial Corp now owns 176,513 shares of the computer maker’s stock worth $6,181,000 after acquiring an additional 7,678 shares during the period. EP Wealth Advisors LLC lifted its holdings in HP by 19.0% in the second quarter. EP Wealth Advisors LLC now owns 27,844 shares of the computer maker’s stock worth $975,000 after acquiring an additional 4,449 shares during the last quarter. Quarry LP grew its holdings in shares of HP by 454.9% during the second quarter. Quarry LP now owns 3,346 shares of the computer maker’s stock valued at $117,000 after purchasing an additional 2,743 shares during the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of HP during the 2nd quarter worth approximately $645,000. Institutional investors own 77.53% of the company’s stock.

HP Price Performance

Shares of HPQ opened at $35.88 on Tuesday. HP Inc. has a 12-month low of $25.56 and a 12-month high of $39.52. The stock has a market capitalization of $35.11 billion, a P/E ratio of 12.12, a P/E/G ratio of 2.35 and a beta of 1.07. The firm’s 50 day moving average is $34.93 and its 200-day moving average is $33.28.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). The business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 EPS. As a group, equities research analysts forecast that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in 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 leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

HPQ has been the subject of a number of recent research reports. Barclays lowered their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. UBS Group boosted their target price on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Loop Capital reduced their price objective on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley decreased their price target on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.55.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’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 owns 3 shares in the company, valued at approximately $99.48. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is currently owned by corporate insiders.

About HP

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.