Abich Financial Wealth Management LLC Buys 395 Shares of HP Inc. (NYSE:HPQ)

Abich Financial Wealth Management LLC increased its stake in HP Inc. (NYSE:HPQ) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,506 shares of the computer maker’s stock after buying an additional 395 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in HP were worth $158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in HP by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after purchasing an additional 3,062,441 shares during the period. Schroder Investment Management Group boosted its holdings in HP by 1,472.4% during the 4th quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock valued at $68,126,000 after acquiring an additional 2,120,096 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of HP during the second quarter worth $62,672,000. DAVENPORT & Co LLC boosted its stake in shares of HP by 10,188.2% during the first quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock valued at $53,680,000 after purchasing an additional 1,760,631 shares during the period. Finally, KBC Group NV grew its holdings in shares of HP by 181.6% in the fourth quarter. KBC Group NV now owns 2,263,542 shares of the computer maker’s stock worth $68,110,000 after purchasing an additional 1,459,775 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Price Performance

HP stock opened at $35.84 on Wednesday. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52. The business has a fifty day moving average price of $35.06 and a 200-day moving average price of $33.13. The stock has a market capitalization of $34.54 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 2.35 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 business had revenue of $13.52 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $0.86 EPS. On average, equities research analysts anticipate that HP Inc. will post 3.39 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

HPQ has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Loop Capital lowered their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Citigroup increased their price objective on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company lifted their target price on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. Finally, Barclays dropped their price target on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, HP presently has an average rating of “Hold” and an average price target of $35.55.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.