Westwood Holdings Group Inc. Purchases New Stake in HP Inc. (NYSE:HPQ)

Westwood Holdings Group Inc. acquired a new position in HP Inc. (NYSE:HPQ) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,086,352 shares of the computer maker’s stock, valued at approximately $38,044,000. Westwood Holdings Group Inc. owned approximately 0.11% of HP as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of HP by 2.6% in the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after purchasing an additional 3,062,441 shares during the period. Schroder Investment Management Group boosted its stake in shares of HP by 1,472.4% during the 4th quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock worth $68,126,000 after acquiring an additional 2,120,096 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in HP in the second quarter valued at $62,672,000. DAVENPORT & Co LLC increased its holdings in HP by 10,188.2% during the 1st quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock valued at $53,680,000 after acquiring an additional 1,760,631 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of HP by 181.6% during the 4th quarter. KBC Group NV now owns 2,263,542 shares of the computer maker’s stock worth $68,110,000 after purchasing an additional 1,459,775 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Down 0.2 %

HPQ stock opened at $34.76 on Friday. The company has a market cap of $34.01 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.23 and a beta of 1.07. The business has a fifty day simple moving average of $35.15 and a 200-day simple moving average of $33.04. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52.

HP (NYSE:HPQ) last announced its quarterly 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 firm had revenue of $13.52 billion for 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 business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. As a group, analysts expect that HP Inc. will post 3.39 earnings per share for the current fiscal year.

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

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the completion of the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on HPQ shares. Bank of America boosted their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. 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 report on Thursday, May 30th. JPMorgan Chase & Co. lifted their price target on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Loop Capital reduced their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, Citigroup lifted 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. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.55.

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.