HP Inc. (NYSE:HPQ) Shares Acquired by Kendall Capital Management

Kendall Capital Management increased its position in shares of HP Inc. (NYSE:HPQ) by 10.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,924 shares of the computer maker’s stock after acquiring an additional 9,731 shares during the period. HP makes up about 1.2% of Kendall Capital Management’s investment portfolio, making the stock its 23rd largest position. Kendall Capital Management’s holdings in HP were worth $3,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of HPQ. Vanguard Group Inc. boosted its stake in shares of HP by 2.6% during the 1st 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. Primecap Management Co. CA boosted its position in shares of HP by 6.2% in the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock valued at $786,237,000 after purchasing an additional 1,319,731 shares during the period. LSV Asset Management increased its stake in HP by 3.3% in the 1st quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock worth $383,028,000 after purchasing an additional 403,355 shares in the last quarter. Northern Trust Corp raised its holdings in HP by 0.4% during the 4th quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock worth $306,089,000 after buying an additional 40,884 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in HP by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock valued at $294,253,000 after buying an additional 287,861 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HPQ. Barclays dropped their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. 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. UBS Group increased their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Bank of America increased their target price on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company increased their target price on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.55.

HP Trading Up 0.3 %

NYSE HPQ opened at $34.53 on Thursday. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52. The company has a market capitalization of $33.79 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07. The firm’s fifty day simple moving average is $35.21 and its 200-day simple moving average is $32.96.

HP (NYSE:HPQ) last posted 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 business had revenue of $13.52 billion for 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 company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. As a group, analysts predict that HP Inc. will post 3.39 EPS for the current year.

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

Insiders Place Their Bets

In other HP news, insider Alex Cho sold 173,137 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

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.