MidWestOne Financial Group Inc. Takes Position in HP Inc. (NYSE:HPQ)

MidWestOne Financial Group Inc. bought a new stake in HP Inc. (NYSE:HPQ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,438 shares of the computer maker’s stock, valued at approximately $225,000.

Several other hedge funds also recently modified their holdings of the business. Sawyer & Company Inc boosted its stake in HP by 900.0% during the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after acquiring an additional 900 shares during the last quarter. Rise Advisors LLC boosted its stake in HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after acquiring an additional 839 shares during the last quarter. Triad Wealth Partners LLC bought a new position in HP during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HP during the 2nd quarter worth approximately $34,000. Finally, DecisionPoint Financial LLC bought a new position in HP during the 2nd quarter worth approximately $43,000. Institutional investors own 77.53% of the company’s stock.

HP Stock Down 3.9 %

NYSE HPQ opened at $35.41 on Friday. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The company has a market capitalization of $34.65 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 2.35 and a beta of 1.07. The firm’s 50 day moving average is $34.97 and its 200-day moving average is $33.22.

HP (NYSE:HPQ) last posted its quarterly earnings data 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 business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same quarter last year, the business earned $0.86 earnings per share. HP’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts expect that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has approved a share buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at HP

In related news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HPQ shares. Morgan Stanley reduced their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Barclays dropped their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. UBS Group raised their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Loop Capital dropped their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, HP currently has an average rating of “Hold” and a consensus target price of $35.55.

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.