Johnson Bixby & Associates LLC Buys 1,508 Shares of HP Inc. (NYSE:HPQ)

Johnson Bixby & Associates LLC raised its stake in shares of HP Inc. (NYSE:HPQ) by 21.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 8,543 shares of the computer maker’s stock after purchasing an additional 1,508 shares during the period. Johnson Bixby & Associates LLC’s holdings in HP were worth $306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chris Bulman Inc bought a new position in HP in the 2nd quarter worth approximately $88,000. Daiwa Securities Group Inc. grew its stake in HP by 27.5% during the first quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock valued at $3,213,000 after acquiring an additional 22,909 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in HP by 85.9% in the 1st quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock valued at $5,275,000 after acquiring an additional 80,670 shares during the last quarter. Swiss National Bank lifted its stake in HP by 1.4% in the 1st quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock worth $85,193,000 after purchasing an additional 37,800 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in shares of HP during the 2nd quarter valued at about $621,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of NYSE HPQ traded up $0.26 during mid-day trading on Friday, hitting $37.01. The stock had a trading volume of 5,832,183 shares, compared to its average volume of 7,961,795. The firm has a market cap of $36.22 billion, a PE ratio of 12.50, a PEG ratio of 2.67 and a beta of 1.07. The company has a 50 day moving average of $34.91 and a two-hundred day moving average of $33.63. HP Inc. has a twelve month low of $25.67 and a twelve month high of $39.52.

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

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group increased their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Morgan Stanley lowered their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Friday, September 27th. Barclays lowered their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Finally, Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, HP has a consensus rating of “Hold” and an average price target of $35.55.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.41% of the stock is owned by corporate insiders.

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.