Sei Investments Co. Has $53.55 Million Holdings in HP Inc. (NYSE:HPQ)

Sei Investments Co. raised its stake in HP Inc. (NYSE:HPQ) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,528,992 shares of the computer maker’s stock after buying an additional 6,278 shares during the quarter. Sei Investments Co. owned 0.16% of HP worth $53,549,000 as of its most recent filing with the Securities and Exchange Commission.

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

HP Trading Down 0.2 %

HPQ stock opened at $34.76 on Monday. The business’s 50 day simple moving average is $35.15 and its 200 day simple moving average is $33.06. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52. The firm has a market capitalization of $34.01 billion, a PE ratio of 11.74, 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 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. As a group, sell-side analysts predict that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its board has initiated a share buyback plan 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 plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

HPQ has been the subject of several research analyst reports. Bank of America boosted 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. Morgan Stanley lowered their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. TD Cowen boosted their price objective on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Citigroup 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. Finally, Loop Capital dropped their price target on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.55.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.41% of the company’s stock.

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.