Copperwynd Financial LLC Purchases 2,084 Shares of HP Inc. (NYSE:HPQ)

Copperwynd Financial LLC boosted its holdings in shares of HP Inc. (NYSE:HPQ) by 9.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,335 shares of the computer maker’s stock after acquiring an additional 2,084 shares during the quarter. Copperwynd Financial LLC’s holdings in HP were worth $878,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

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

HP Price Performance

Shares of HP stock opened at $35.41 on Friday. HP Inc. has a 52-week low of $25.22 and a 52-week high of $39.52. The firm has a market capitalization of $34.65 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 2.35 and a beta of 1.07. The company’s fifty day moving average price is $34.97 and its two-hundred day moving average price is $33.22.

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 business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. Analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.