Campbell Wealth Management Buys New Shares in HP Inc. (NYSE:HPQ)

Campbell Wealth Management purchased a new position in shares of HP Inc. (NYSE:HPQ) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,783 shares of the computer maker’s stock, valued at approximately $203,000.

Several other large investors have also added to or reduced their stakes in the company. Sawyer & Company Inc lifted its holdings in shares of HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after purchasing an additional 900 shares during the period. Rise Advisors LLC boosted its holdings in HP by 377.9% in the first 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. Triad Wealth Partners LLC acquired a new stake in HP during the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HP during the 2nd quarter valued at about $34,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of HP during the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. TD Cowen increased their price target on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Bank of America raised their target price on 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 price target on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Wells Fargo & Company raised their price objective on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Finally, Citigroup upped their target price on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. One 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.55.

Insiders Place Their Bets

In other news, insider Alex Cho sold 173,137 shares of the business’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 transaction, the insider now 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 SEC, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.

HP Stock Up 0.5 %

HP stock opened at $33.37 on Thursday. The company has a fifty day simple moving average of $35.36 and a 200-day simple moving average of $32.78. The firm has a market capitalization of $32.65 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 2.26 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 quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter last year, the company earned $0.86 earnings per share. HP’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

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

HP Company 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.