Lyell Wealth Management LP Buys 649 Shares of HP Inc. (NYSE:HPQ)

Lyell Wealth Management LP boosted its stake in shares of HP Inc. (NYSE:HPQ) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,427 shares of the computer maker’s stock after purchasing an additional 649 shares during the quarter. Lyell Wealth Management LP’s holdings in HP were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Triad Wealth Partners LLC acquired a new stake in HP in the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP in the second quarter valued at approximately $34,000. Sawyer & Company Inc increased its position in shares of HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after buying an additional 900 shares in the last quarter. Rise Advisors LLC increased its position in shares of 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 buying an additional 839 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in shares of HP in the second quarter valued at approximately $48,000. Institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HPQ shares. Citigroup raised their price target 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. Loop Capital reduced their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Barclays reduced their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Bank of America boosted their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, 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 report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HP has an average rating of “Hold” and an average price target of $35.55.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other HP news, insider Alex Cho sold 173,137 shares of the firm’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 approximately $2,335,450.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Enrique Lores sold 211,501 shares of the 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 transaction, the chief executive officer now owns 3 shares in the company, valued at $99.48. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

HP Trading Up 0.7 %

Shares of HP stock opened at $33.32 on Monday. The company has a fifty day simple moving average of $35.29 and a 200-day simple moving average of $32.87. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The stock has a market cap of $32.61 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 2.23 and a beta of 1.07.

HP (NYSE:HPQ) last released 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 business 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 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts forecast that HP Inc. will post 3.39 earnings per share for the current fiscal year.

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