Elevated Capital Advisors LLC Lowers Stock Position in HP Inc. (NYSE:HPQ)

Elevated Capital Advisors LLC lessened its holdings in shares of HP Inc. (NYSE:HPQ) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,752 shares of the computer maker’s stock after selling 283 shares during the quarter. Elevated Capital Advisors LLC’s holdings in HP were worth $709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HPQ. Sawyer & Company Inc raised 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 valued at $30,000 after purchasing an additional 900 shares during the period. Triad Wealth Partners LLC bought a new stake in HP during the 2nd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HP during the 2nd quarter valued at approximately $34,000. Wolff Wiese Magana LLC raised 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 valued at $35,000 after purchasing an additional 518 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in HP during the 3rd quarter valued at approximately $37,000. Institutional investors own 77.53% of the company’s stock.

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 stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the completion of the sale, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HPQ. Morgan Stanley reduced their price objective on 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 reduced their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, October 1st. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, September 27th. Finally, UBS Group lifted their price objective on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, HP currently has an average rating of “Hold” and an average target price of $35.55.

HP Stock Down 1.0 %

HPQ opened at $35.85 on Thursday. The business has a fifty day moving average of $35.46 and a 200 day moving average of $34.02. HP Inc. has a 52-week low of $25.67 and a 52-week high of $39.52. The stock has a market cap of $35.08 billion, a P/E ratio of 12.11, a PEG ratio of 2.67 and a beta of 1.07.

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 for the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. HP’s revenue was up 2.4% compared to the same quarter last year. Equities analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits 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 management believes its shares are undervalued.

HP 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.