Northwestern Mutual Wealth Management Co. Raises Stock Holdings in HP Inc. (NYSE:HPQ)

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of HP Inc. (NYSE:HPQ) by 9.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,516 shares of the computer maker’s stock after acquiring an additional 3,722 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in HP were worth $1,454,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Chris Bulman Inc purchased a new stake in shares of HP during the second quarter valued at $88,000. Daiwa Securities Group Inc. boosted its position in HP by 27.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock valued at $3,213,000 after buying an additional 22,909 shares during the period. State of Alaska Department of Revenue grew its stake in HP by 85.9% in the 1st quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock worth $5,275,000 after acquiring an additional 80,670 shares in the last quarter. Swiss National Bank increased its position in shares of HP by 1.4% during the first quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock worth $85,193,000 after acquiring an additional 37,800 shares during the period. Finally, CenterBook Partners LP bought a new stake in shares of HP during the fourth quarter valued at approximately $981,000. Institutional investors own 77.53% of the company’s stock.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.41% of the company’s stock.

HP Stock Up 1.1 %

NYSE:HPQ opened at $35.99 on Friday. The firm has a 50 day moving average of $34.80 and a 200 day moving average of $33.40. HP Inc. has a 52 week low of $25.59 and a 52 week high of $39.52. The stock has a market capitalization of $35.22 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 2.35 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 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts expect that HP Inc. will post 3.39 EPS for the current year.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on HPQ shares. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, September 27th. Loop Capital cut 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. JPMorgan Chase & Co. upped their price objective on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Tuesday, October 1st. Finally, Barclays lowered their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, HP has an average rating of “Hold” and a consensus 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.