Great Valley Advisor Group Inc. Boosts Stock Position in HP Inc. (NYSE:HPQ)

Great Valley Advisor Group Inc. raised its position in shares of HP Inc. (NYSE:HPQ) by 7.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,171 shares of the computer maker’s stock after buying an additional 814 shares during the period. Great Valley Advisor Group Inc.’s holdings in HP were worth $401,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in HP during the third quarter valued at approximately $25,000. Triad Wealth Partners LLC purchased a new stake in shares of HP during the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HP in the 2nd quarter worth $34,000. Wolff Wiese Magana LLC grew its stake in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after buying an additional 518 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in HP during the 3rd quarter valued at about $37,000. 77.53% of the stock is currently owned by institutional investors.

HP Stock Down 0.6 %

Shares of HPQ opened at $39.08 on Wednesday. The stock’s 50-day moving average price is $36.56 and its 200-day moving average price is $35.53. The company has a market capitalization of $37.66 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 2.62 and a beta of 1.07. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. During the same quarter last year, the company earned $0.90 EPS. The business’s revenue was up 1.7% on a year-over-year basis. As a group, equities analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its board has approved a share buyback plan 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Loop Capital lowered their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Morgan Stanley dropped their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Barclays cut 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. JPMorgan Chase & Co. dropped their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, HP currently has a consensus rating of “Hold” and a consensus target price of $35.45.

Insiders Place Their Bets

In related 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 value of $7,013,373.16. Following the completion of the transaction, the chief executive officer now owns 3 shares in the company, valued at $99.48. The trade was a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.41% of the company’s stock.

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.