HP Inc. (NYSE:HPQ) Stock Position Lowered by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC trimmed its position in shares of HP Inc. (NYSE:HPQ) by 23.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,586 shares of the computer maker’s stock after selling 1,966 shares during the period. SeaCrest Wealth Management LLC’s holdings in HP were worth $236,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC acquired a new position in HP during the fourth quarter valued at $472,000. CWM LLC lifted its position in shares of HP by 18.7% in the first quarter. CWM LLC now owns 35,306 shares of the computer maker’s stock worth $1,067,000 after purchasing an additional 5,561 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of HP by 8.4% during the first quarter. GAMMA Investing LLC now owns 7,774 shares of the computer maker’s stock worth $235,000 after purchasing an additional 604 shares during the period. Mather Group LLC. purchased a new position in HP during the first quarter valued at approximately $154,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in HP by 32.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 3,196 shares of the computer maker’s stock valued at $97,000 after buying an additional 780 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

HP Trading Down 0.8 %

NYSE:HPQ opened at $37.28 on Friday. The firm has a market capitalization of $36.48 billion, a PE ratio of 12.59, a PEG ratio of 2.67 and a beta of 1.07. HP Inc. has a 1 year low of $25.67 and a 1 year high of $39.52. The firm’s fifty day simple moving average is $35.36 and its 200 day simple moving average is $33.85.

HP (NYSE:HPQ) last posted its quarterly earnings data 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 business had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its board has initiated a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Tuesday, October 1st. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Friday, September 27th. Barclays cut their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Finally, UBS Group boosted their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, HP presently has a consensus 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.