Oppenheimer Asset Management Inc. Has $546,000 Stock Position in HP Inc. (NYSE:HPQ)

Oppenheimer Asset Management Inc. boosted its holdings in HP Inc. (NYSE:HPQ) by 108.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,213 shares of the computer maker’s stock after acquiring an additional 7,924 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in HP were worth $546,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in HP during the 1st quarter worth $160,000. Shell Asset Management Co. increased its holdings in HP by 14.1% in the first quarter. Shell Asset Management Co. now owns 68,833 shares of the computer maker’s stock valued at $2,080,000 after purchasing an additional 8,520 shares during the period. Vident Advisory LLC raised its position in HP by 250.9% during the 1st quarter. Vident Advisory LLC now owns 182,217 shares of the computer maker’s stock worth $5,507,000 after purchasing an additional 130,284 shares during the last quarter. CreativeOne Wealth LLC grew its position in shares of HP by 79.8% in the 1st quarter. CreativeOne Wealth LLC now owns 23,615 shares of the computer maker’s stock valued at $713,000 after buying an additional 10,481 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of HP by 2.4% during the first quarter. Advisors Asset Management Inc. now owns 631,957 shares of the computer maker’s stock worth $19,098,000 after acquiring an additional 14,824 shares during the last quarter. 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 company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 3 shares in the company, valued at $99.48. This represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.

HP Stock Performance

Shares of HPQ opened at $36.87 on Wednesday. The firm has a market capitalization of $35.53 billion, a P/E ratio of 12.94, a P/E/G ratio of 2.51 and a beta of 1.07. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.52. The stock has a 50 day moving average price of $36.10 and a two-hundred day moving average price of $35.21.

HP (NYSE:HPQ) last announced 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 company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter last year, the company posted $0.86 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities analysts forecast that HP Inc. will post 3.39 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Morgan Stanley lowered their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. UBS Group raised their price objective on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Loop Capital decreased their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Finally, Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.55.

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.