EverSource Wealth Advisors LLC Has $151,000 Position in HP Inc. (NYSE:HPQ)

EverSource Wealth Advisors LLC lifted its stake in shares of HP Inc. (NYSE:HPQ) by 58.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,175 shares of the computer maker’s stock after buying an additional 1,534 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in HP were worth $151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HPQ. Treasurer of the State of North Carolina grew its holdings in HP by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 401,809 shares of the computer maker’s stock valued at $12,090,000 after buying an additional 4,102 shares in the last quarter. Chris Bulman Inc bought a new position in HP during the second quarter worth about $88,000. Daiwa Securities Group Inc. raised its stake in HP by 27.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock worth $3,213,000 after purchasing an additional 22,909 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in HP by 85.9% in the 1st quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock valued at $5,275,000 after purchasing an additional 80,670 shares during the period. Finally, Swiss National Bank grew its position in shares of HP by 1.4% during the 1st quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock worth $85,193,000 after purchasing an additional 37,800 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Trading Up 2.2 %

HPQ stock opened at $36.85 on Friday. The firm has a 50-day moving average price of $35.02 and a 200-day moving average price of $33.15. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52. The stock has a market capitalization of $36.06 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 2.35 and a beta of 1.07.

HP (NYSE:HPQ) last issued 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). The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. As a group, equities analysts predict that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction dated 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 sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. TD Cowen lifted their price target on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. UBS Group upped their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays reduced their target price on HP from $33.00 to $32.00 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. Finally, Citigroup increased their price objective on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.55.

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.