DecisionPoint Financial LLC Acquires Shares of 1,188 HP Inc. (NYSE:HPQ)

DecisionPoint Financial LLC acquired a new stake in HP Inc. (NYSE:HPQ) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,188 shares of the computer maker’s stock, valued at approximately $43,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 3,062,441 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of HP by 6.2% during the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after purchasing an additional 1,319,731 shares during the last quarter. LSV Asset Management lifted its position in shares of HP by 3.3% during the first quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock worth $383,028,000 after purchasing an additional 403,355 shares during the last quarter. Northern Trust Corp lifted its position in shares of HP by 0.4% during the fourth quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock worth $306,089,000 after purchasing an additional 40,884 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of 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. Institutional investors own 77.53% of the company’s stock.

Insider Activity at HP

In related news, insider Alex Cho sold 173,137 shares of the firm’s 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 transaction, the insider now owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Alex Cho sold 173,137 shares of the firm’s 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 transaction, the insider now owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

HP Trading Up 2.0 %

Shares of NYSE:HPQ opened at $34.43 on Wednesday. The firm’s 50 day moving average is $35.24 and its two-hundred day moving average is $32.95. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The firm has a market capitalization of $33.69 billion, a P/E ratio of 11.63, a PEG ratio of 2.23 and a beta of 1.07.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same quarter in the previous year, the business posted $0.86 EPS. HP’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has authorized a stock repurchase program on Wednesday, August 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on HPQ shares. Loop Capital reduced their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. UBS Group increased their price objective on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Citigroup increased their price objective on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. increased their price objective on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Bank of America increased their price objective on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. One 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 company 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.