PFG Investments LLC Increases Stake in HP Inc. (NYSE:HPQ)

PFG Investments LLC grew its holdings in HP Inc. (NYSE:HPQ) by 19.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,362 shares of the computer maker’s stock after buying an additional 5,045 shares during the period. PFG Investments LLC’s holdings in HP were worth $1,063,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in HP in the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HP in the 2nd quarter worth $34,000. Sawyer & Company Inc increased its stake in shares of HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after acquiring an additional 900 shares during the last quarter. Rise Advisors LLC raised its holdings 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 acquiring an additional 839 shares during the period. Finally, Hantz Financial Services Inc. acquired a new stake in HP during the second quarter worth about $48,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Trading Down 2.1 %

HPQ stock opened at $33.47 on Wednesday. The business’s fifty day moving average price is $35.38 and its 200 day moving average price is $32.78. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The company has a market capitalization of $32.26 billion, a PE ratio of 11.31, a P/E/G ratio of 2.26 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 (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts predict that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is 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 on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the sale, the insider now owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HPQ shares. Morgan Stanley decreased their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. TD Cowen upped their price objective on HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. raised their target price on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. UBS Group upped their price target on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $35.55.

About HP

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.