Bahl & Gaynor Inc. Buys 938,680 Shares of HP Inc. (NYSE:HPQ)

Bahl & Gaynor Inc. lifted its position in HP Inc. (NYSE:HPQFree Report) by 106.5% in the second quarter, Holdings Channel reports. The firm owned 1,819,874 shares of the computer maker’s stock after buying an additional 938,680 shares during the period. Bahl & Gaynor Inc.’s holdings in HP were worth $63,732,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Triad Wealth Partners LLC bought a new position in shares of HP during the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HP during the 2nd quarter worth about $34,000. Sawyer & Company Inc grew its holdings in HP by 900.0% during 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 in the last quarter. Rise Advisors LLC increased its position in HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares during the period. Finally, Hantz Financial Services Inc. bought a new stake in shares of HP in the 2nd quarter valued at about $48,000. Institutional investors own 77.53% of the company’s stock.

Insider Activity

In related 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

HP Stock Performance

HP stock opened at $33.47 on Wednesday. HP Inc. has a one year low of $25.22 and a one year high of $39.52. The stock has a market cap of $32.26 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 2.26 and a beta of 1.07. The stock has a 50-day moving average of $35.38 and a two-hundred day moving average of $32.78.

HP (NYSE:HPQGet Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. As a group, sell-side analysts predict that HP Inc. will post 3.39 EPS for the current fiscal year.

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

Analyst Ratings Changes

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

View Our Latest Research Report on HP

HP Profile

(Free Report)

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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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