Catalyst Capital Advisors LLC Buys New Holdings in HP Inc. (NYSE:HPQ)

Catalyst Capital Advisors LLC purchased a new position in HP Inc. (NYSE:HPQ) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,753 shares of the computer maker’s stock, valued at approximately $63,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Chris Bulman Inc acquired a new stake in HP in the 2nd quarter valued at $88,000. Swiss National Bank increased its position in shares of HP by 1.4% during the first quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock worth $85,193,000 after acquiring an additional 37,800 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of HP in the 2nd quarter worth about $621,000. Cetera Investment Advisers lifted its position in HP by 154.7% in the 1st quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker’s stock valued at $3,309,000 after acquiring an additional 66,510 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in HP by 11.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 193,700 shares of the computer maker’s stock worth $6,947,000 after purchasing an additional 19,845 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HPQ shares. Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Tuesday, October 1st. Loop Capital dropped their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Morgan Stanley cut their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. UBS Group lifted 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. Finally, Barclays reduced their target price on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.55.

Insider Activity at HP

In other news, CEO Enrique Lores sold 211,501 shares of the firm’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 transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is owned by company insiders.

HP Trading Up 0.7 %

Shares of NYSE HPQ opened at $36.91 on Thursday. The firm has a market cap of $35.57 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 2.46 and a beta of 1.07. The stock has a fifty day simple moving average of $35.72 and a two-hundred 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 announced its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). The firm had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS. Analysts forecast that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has approved a share repurchase plan 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 plans are typically a sign that the company’s management believes its shares are undervalued.

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.