Maia Wealth LLC Acquires New Stake in HP Inc. (NYSE:HPQ)

Maia Wealth LLC bought a new position in HP Inc. (NYSE:HPQ) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,000 shares of the computer maker’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HPQ. Vanguard Group Inc. raised its position in HP by 2.6% in the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after acquiring an additional 3,062,441 shares during the period. Wedge Capital Management L L P NC purchased a new stake in shares of HP in the 2nd quarter worth $62,672,000. DME Capital Management LP raised its holdings in HP by 108.7% in the 2nd quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock worth $118,124,000 after purchasing an additional 1,757,070 shares during the period. Primecap Management Co. CA lifted its position in HP by 6.2% during the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock valued at $786,237,000 after purchasing an additional 1,319,731 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in HP by 11.3% during the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after purchasing an additional 1,089,848 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Price Performance

NYSE:HPQ opened at $36.91 on Thursday. The firm has a market capitalization of $35.57 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.46 and a beta of 1.07. The business has a 50 day simple moving average of $35.72 and a 200-day simple moving average of $34.59. HP Inc. has a 1 year low of $27.01 and a 1 year high of $39.52.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts expect that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HPQ shares. Barclays lowered their target price 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. boosted their target price on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Loop Capital cut their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Morgan Stanley decreased their price target 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. Finally, UBS Group raised their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.55.

HP Company 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.