Frank Rimerman Advisors LLC Invests $621,000 in HP Inc. (NYSE:HPQ)

Frank Rimerman Advisors LLC purchased a new position in HP Inc. (NYSE:HPQ) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,733 shares of the computer maker’s stock, valued at approximately $621,000.

Several other large investors have also added to or reduced their stakes in HPQ. Triad Wealth Partners LLC purchased a new stake in HP in the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HP during the second quarter worth $34,000. Sawyer & Company Inc lifted 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 valued at $30,000 after buying an additional 900 shares in the last quarter. Rise Advisors LLC lifted its position in shares of HP by 377.9% in the first 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 in the last quarter. Finally, DecisionPoint Financial LLC acquired a new stake in HP during the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’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 transaction, the chief executive officer now owns 3 shares in the company, valued at $99.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. TD Cowen lifted their price objective on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. UBS Group increased their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Citigroup upped their price objective on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Bank of America lifted their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Morgan Stanley cut their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.55.

HP Stock Performance

HPQ opened at $35.10 on Tuesday. The company has a 50-day moving average of $35.10 and a 200-day moving average of $33.09. 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 $34.35 billion, a P/E ratio of 11.86, a PEG ratio of 2.23 and a beta of 1.07.

HP (NYSE:HPQ) last released its quarterly earnings results 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). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. During the same period in the previous year, the company posted $0.86 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts expect that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its board has approved a share repurchase program on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board 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.