Brighton Jones LLC Has $749,000 Stock Position in HP Inc. (NYSE:HPQ)

Brighton Jones LLC raised its holdings in HP Inc. (NYSE:HPQ) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,390 shares of the computer maker’s stock after buying an additional 521 shares during the quarter. Brighton Jones LLC’s holdings in HP were worth $749,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of HP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after acquiring an additional 3,062,441 shares during the period. Primecap Management Co. CA increased its stake in HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock valued at $786,237,000 after purchasing an additional 1,319,731 shares in the last quarter. LSV Asset Management raised its holdings in shares of HP by 3.3% during the first quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock valued at $383,028,000 after purchasing an additional 403,355 shares during the period. Northern Trust Corp boosted its position in shares of HP by 0.4% during the 4th quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock worth $306,089,000 after purchasing an additional 40,884 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of HP by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock valued at $294,253,000 after buying an additional 287,861 shares during the period. 77.53% of the stock is currently owned by institutional investors.

HP Stock Down 0.2 %

HP stock opened at $34.76 on Friday. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The company’s 50 day moving average price is $35.15 and its two-hundred day moving average price is $33.04. The stock has a market cap of $34.01 billion, a P/E ratio of 11.74, a P/E/G ratio of 2.23 and a beta of 1.07.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS 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 the consensus estimate of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. On average, equities 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 authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HPQ. Morgan Stanley cut their price target on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Bank of America increased their target price on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. boosted their price target on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. TD Cowen raised their price objective 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. Finally, Citigroup boosted their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.55.

Insider Buying and Selling

In related news, CEO Enrique Lores sold 211,501 shares of the firm’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 sale, the chief executive officer now owns 3 shares in the company, valued at $99.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is owned by 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.