Bleakley Financial Group LLC Purchases 1,060 Shares of HP Inc. (NYSE:HPQ)

Bleakley Financial Group LLC grew its holdings in shares of HP Inc. (NYSE:HPQ) by 5.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,716 shares of the computer maker’s stock after buying an additional 1,060 shares during the period. Bleakley Financial Group LLC’s holdings in HP were worth $707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in HP by 2.6% during the first 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 in the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of HP in the 2nd quarter worth approximately $62,672,000. DAVENPORT & Co LLC grew its stake in shares of HP by 10,188.2% in the 1st quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock worth $53,680,000 after buying an additional 1,760,631 shares during the last quarter. DME Capital Management LP raised its stake in HP by 108.7% during the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after buying an additional 1,757,070 shares during the last quarter. Finally, Primecap Management Co. CA boosted its holdings 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 worth $786,237,000 after acquiring an additional 1,319,731 shares in the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Enrique Lores sold 211,501 shares of the firm’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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, September 27th. Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Morgan Stanley decreased their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Finally, Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have given 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 an average price target of $35.55.

HP Trading Down 2.2 %

Shares of NYSE HPQ opened at $36.46 on Tuesday. HP Inc. has a 12-month low of $25.67 and a 12-month high of $39.52. The firm has a market capitalization of $35.68 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 2.67 and a beta of 1.07. The firm has a 50 day moving average of $35.41 and a 200 day moving average of $33.96.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 earnings per share. Sell-side analysts predict that HP Inc. will post 3.39 EPS for the current year.

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

HP 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.