DecisionPoint Financial LLC Makes New $43,000 Investment in HP Inc. (NYSE:HPQ)

DecisionPoint Financial LLC acquired a new position in shares of HP Inc. (NYSE:HPQ) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,188 shares of the computer maker’s stock, valued at approximately $43,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in shares of HP in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HP in the 2nd quarter valued at $34,000. Sawyer & Company Inc lifted 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 valued at $30,000 after purchasing an additional 900 shares during the last quarter. Rise Advisors LLC lifted its stake in shares of HP by 377.9% in 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 last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of HP in the 2nd quarter valued at $48,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Performance

Shares of HPQ opened at $34.43 on Wednesday. The company has a 50-day simple moving average of $35.24 and a 200-day simple moving average of $32.95. The firm has a market capitalization of $33.69 billion, a P/E ratio of 11.63, a P/E/G ratio of 2.23 and a beta of 1.07. HP Inc. has a 52 week low of $25.22 and a 52 week 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. As a group, equities analysts forecast that HP Inc. will post 3.39 earnings per share for the current year.

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

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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other HP news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 directly owns 3 shares of the company’s stock, valued at approximately $99.48. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HPQ has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Bank of America boosted their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Citigroup boosted their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. UBS Group boosted their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.