HP Inc. (NYSE:HPQ) Shares Bought by Wulff Hansen & CO.

Wulff Hansen & CO. lifted its stake in shares of HP Inc. (NYSE:HPQ) by 3,402.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 302,223 shares of the computer maker’s stock after purchasing an additional 293,593 shares during the quarter. Wulff Hansen & CO.’s holdings in HP were worth $10,584,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in HP by 2.6% during the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after buying an additional 3,062,441 shares during the period. LSV Asset Management grew its holdings in shares of HP by 3.3% in the 1st quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock worth $383,028,000 after acquiring an additional 403,355 shares during the period. Northern Trust Corp increased its stake in HP by 0.4% in the 4th quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock valued at $306,089,000 after purchasing an additional 40,884 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in HP by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock worth $294,253,000 after purchasing an additional 287,861 shares during the last quarter. Finally, Norges Bank purchased a new stake in HP during the fourth quarter worth $187,264,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on HPQ. Bank of America lifted their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Barclays cut their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Citigroup increased their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Morgan Stanley reduced their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price target on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $35.55.

Insider Activity

In related news, insider Alex Cho sold 173,137 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Alex Cho sold 173,137 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the sale, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

HP Trading Up 1.3 %

NYSE HPQ opened at $33.76 on Tuesday. The company has a market capitalization of $33.04 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07. The business’s 50-day moving average price is $35.26 and its 200 day moving average price is $32.91. HP Inc. has a twelve month low of $25.22 and a twelve month high of $39.52.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share 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 analysts’ expectations of $13.37 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. Equities analysts predict that HP Inc. will post 3.39 EPS for the current 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 outstanding shares. This buyback authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.