HP Inc. (NYSE:HPQ) Shares Purchased by Avestar Capital LLC

Avestar Capital LLC lifted its position in shares of HP Inc. (NYSE:HPQ) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,395 shares of the computer maker’s stock after buying an additional 913 shares during the quarter. Avestar Capital LLC’s holdings in HP were worth $445,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Chris Bulman Inc purchased a new stake in shares of HP in the second quarter valued at $88,000. Principal Financial Group Inc. grew its holdings in HP by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after buying an additional 160,268 shares during the period. Frank Rimerman Advisors LLC acquired a new position in shares of HP during the 2nd quarter valued at about $621,000. Cetera Investment Advisers lifted its holdings in shares of HP by 154.7% during the 1st quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker’s stock worth $3,309,000 after acquiring an additional 66,510 shares during the period. Finally, National Pension Service boosted its position in shares of HP by 24.1% in the third quarter. National Pension Service now owns 2,162,772 shares of the computer maker’s stock worth $77,579,000 after acquiring an additional 419,774 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of the 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 $99.48. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HPQ shares. UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley reduced their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Loop Capital dropped their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. 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. Finally, Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.45.

HP Stock Down 0.6 %

NYSE HPQ opened at $39.08 on Wednesday. The stock has a market cap of $37.66 billion, a PE ratio of 13.71, a P/E/G ratio of 2.70 and a beta of 1.07. The business has a 50 day moving average price of $36.56 and a two-hundred day moving average price of $35.53. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79.

HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same period last year, the firm earned $0.90 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

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