HP Inc. (NYSE:HPQ) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its stake in HP Inc. (NYSE:HPQ) by 69.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,694 shares of the computer maker’s stock after purchasing an additional 18,699 shares during the period. Oppenheimer & Co. Inc.’s holdings in HP were worth $1,600,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of HPQ. Sawyer & Company Inc boosted its stake in HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after purchasing an additional 900 shares in the last quarter. Rise Advisors LLC lifted its stake in HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 839 shares during the period. Triad Wealth Partners LLC acquired a new stake in HP during the 2nd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HP during the 2nd quarter valued at approximately $34,000. Finally, Hantz Financial Services Inc. acquired a new stake in HP during the 2nd quarter valued at approximately $48,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Up 2.0 %

HPQ stock opened at $34.43 on Wednesday. The company’s 50-day simple moving average is $35.24 and its 200-day simple moving average is $32.95. HP Inc. has a 52-week low of $25.22 and a 52-week high of $39.52. The firm has a market cap of $33.69 billion, a P/E ratio of 11.63, a PEG ratio of 2.23 and a beta of 1.07.

HP (NYSE:HPQ) last issued its quarterly earnings results 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 during 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 company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. On average, analysts anticipate that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its board has authorized a share 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 purchase up to 28.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at HP

In related news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other HP news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $7,013,373.16. Following the completion of the transaction, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on HPQ shares. TD Cowen lifted their price objective on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Barclays decreased their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. Bank of America lifted their price objective on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. UBS Group lifted their price objective on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Citigroup boosted their target price on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.55.

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.