HP Inc. (NYSE:HPQ) Shares Purchased by Optimist Retirement Group LLC

Optimist Retirement Group LLC raised its stake in HP Inc. (NYSE:HPQ) by 3.2% in the second quarter, HoldingsChannel.com reports. The fund owned 65,098 shares of the computer maker’s stock after purchasing an additional 2,023 shares during the quarter. HP comprises approximately 1.2% of Optimist Retirement Group LLC’s portfolio, making the stock its 19th biggest position. Optimist Retirement Group LLC’s holdings in HP were worth $2,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in HPQ. Sawyer & Company Inc increased its position in HP by 900.0% during 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 boosted its stake in shares of HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of HP during the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HP in the second quarter valued at approximately $34,000. Finally, DecisionPoint Financial LLC purchased a new position in shares of HP during the second quarter valued at approximately $43,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Performance

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 firm has a 50 day moving average price of $35.21 and a 200 day moving average price of $32.96. The company has a market cap 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.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). The business 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. On average, sell-side analysts predict that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its Board of Directors has authorized a share 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 reacquire up to 28.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at HP

In other news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was 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 owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Alex Cho sold 173,137 shares of the business’s 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 filing with the SEC, which is available at the SEC website. Also, CEO Enrique Lores sold 211,501 shares of the firm’s 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 disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on HPQ. UBS Group lifted their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Loop Capital lowered their price objective on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Citigroup increased their target price on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. TD Cowen lifted their price target on HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company increased their price objective on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. One 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.