Wolff Wiese Magana LLC Has $35,000 Position in HP Inc. (NYSE:HPQ)

Wolff Wiese Magana LLC raised its stake in shares of HP Inc. (NYSE:HPQ) by 115.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 968 shares of the computer maker’s stock after buying an additional 518 shares during the period. Wolff Wiese Magana LLC’s holdings in HP were worth $35,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Chris Bulman Inc acquired a new stake in shares of HP in the 2nd quarter valued at $88,000. Daiwa Securities Group Inc. lifted its stake in shares of HP by 27.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock valued at $3,213,000 after purchasing an additional 22,909 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of HP by 85.9% in the 1st quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock valued at $5,275,000 after purchasing an additional 80,670 shares during the last quarter. Swiss National Bank lifted its stake in shares of HP by 1.4% in the 1st quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock valued at $85,193,000 after purchasing an additional 37,800 shares during the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in HP in the 2nd quarter worth $621,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on HPQ. Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Friday, September 27th. Morgan Stanley dropped 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. Loop Capital dropped their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Barclays dropped their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.55.

Insider Activity at HP

In related news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by insiders.

HP Stock Up 1.1 %

NYSE HPQ opened at $37.58 on Friday. The stock has a market cap of $36.77 billion, a P/E ratio of 12.70, a PEG ratio of 2.67 and a beta of 1.07. The company’s 50-day simple moving average is $35.28 and its 200 day simple moving average is $33.80. HP Inc. has a twelve month low of $25.67 and a twelve month high of $39.52.

HP (NYSE:HPQ) last posted its 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 during the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. Research analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

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

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.