Maverick Capital Ltd. Has $3.47 Million Position in HP Inc. (NYSE:HPQ)

Maverick Capital Ltd. lifted its position in HP Inc. (NYSE:HPQ) by 89.9% during the second quarter, HoldingsChannel.com reports. The fund owned 98,961 shares of the computer maker’s stock after purchasing an additional 46,849 shares during the period. Maverick Capital Ltd.’s holdings in HP were worth $3,466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sawyer & Company Inc increased its stake in HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after purchasing an additional 900 shares in the last quarter. Rise Advisors LLC increased its position in shares of HP by 377.9% in the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after buying an additional 839 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in HP during the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HP during the second quarter worth about $34,000. Finally, DecisionPoint Financial LLC acquired a new position in HP in the second quarter valued at about $43,000. Institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on HPQ. Morgan Stanley dropped their price target 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. JPMorgan Chase & Co. lifted their price target on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Loop Capital reduced their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company raised 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. Finally, TD Cowen upped their target price on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.55.

HP Trading Up 2.2 %

HP stock opened at $36.85 on Friday. The company has a fifty day simple moving average of $35.02 and a 200 day simple moving average of $33.15. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52. The company has a market cap of $36.06 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 2.35 and a beta of 1.07.

HP (NYSE:HPQ) last released its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same period in the prior year, the firm posted $0.86 EPS. HP’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that HP Inc. will post 3.39 EPS for the current year.

HP declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at HP

In related news, 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 value of $7,013,373.16. Following the completion of the transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.41% of the company’s stock.

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.