HP Inc. (NYSE:HPQ) Shares Purchased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. raised its stake in HP Inc. (NYSE:HPQ) by 2.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,296 shares of the computer maker’s stock after purchasing an additional 345 shares during the period. J.W. Cole Advisors Inc.’s holdings in HP were worth $431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in HPQ. Treasurer of the State of North Carolina increased its holdings in shares of HP by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 401,809 shares of the computer maker’s stock valued at $12,090,000 after acquiring an additional 4,102 shares during the period. Chris Bulman Inc acquired a new position in HP in the second quarter valued at $88,000. Daiwa Securities Group Inc. raised its holdings in shares of HP by 27.5% in the first 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 last quarter. State of Alaska Department of Revenue boosted its stake in shares of HP by 85.9% during the first quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock worth $5,275,000 after buying an additional 80,670 shares during the period. Finally, Swiss National Bank grew its holdings 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 buying an additional 37,800 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the topic of several analyst reports. Citigroup lifted their target price on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Bank of America boosted 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. JPMorgan Chase & Co. raised their target price 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. Barclays lowered their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Finally, Morgan Stanley cut their price target 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $35.55.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other HP news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alex Cho sold 173,137 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at approximately $2,335,450.36. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

HP Stock Performance

NYSE:HPQ opened at $34.43 on Wednesday. The company has a market capitalization of $33.69 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07. HP Inc. has a one year low of $25.22 and a one year high of $39.52. The stock has a 50-day simple moving average of $35.24 and a 200 day simple moving average of $32.95.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). The firm 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%. HP’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 EPS. On average, equities research analysts forecast that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its board has approved a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.