Werba Rubin Papier Wealth Management Purchases Shares of 12,053 HP Inc. (NYSE:HPQ)

Werba Rubin Papier Wealth Management bought a new position in shares of HP Inc. (NYSE:HPQ) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,053 shares of the computer maker’s stock, valued at approximately $422,000.

A number of other hedge funds also recently bought and sold shares of the stock. Triad Wealth Partners LLC acquired a new stake in HP in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP during the 2nd quarter worth $34,000. Sawyer & Company Inc increased its holdings in 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 during the last quarter. Rise Advisors LLC raised its stake 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 buying an additional 839 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in HP during the 2nd quarter worth about $48,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Morgan Stanley reduced 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 upped their target price on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. UBS Group boosted their price target on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company lifted their target price on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.55.

Insider Transactions at HP

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 transaction, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

HP Stock Down 1.7 %

NYSE:HPQ traded down $0.58 during midday trading on Friday, reaching $33.82. The stock had a trading volume of 7,995,956 shares, compared to its average volume of 7,880,553. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The firm has a fifty day simple moving average of $35.43 and a two-hundred day simple moving average of $32.68. The stock has a market cap of $33.09 billion, a P/E ratio of 11.43, a P/E/G ratio of 2.32 and a beta of 1.07.

HP (NYSE:HPQ) last released its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. On average, sell-side analysts anticipate that HP Inc. will post 3.4 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be issued a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio (DPR) is currently 37.16%.

HP announced that its board has approved a stock repurchase 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 repurchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

About HP

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.