Avior Wealth Management LLC Increases Stake in HP Inc. (NYSE:HPQ)

Avior Wealth Management LLC boosted its stake in shares of HP Inc. (NYSE:HPQ) by 19.8% during the 3rd quarter, Holdings Channel reports. The firm owned 11,501 shares of the computer maker’s stock after acquiring an additional 1,898 shares during the quarter. Avior Wealth Management LLC’s holdings in HP were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Chris Bulman Inc acquired a new stake in shares of HP during the second quarter worth about $88,000. Principal Financial Group Inc. lifted its stake in HP by 16.1% during 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 acquiring an additional 160,268 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of HP in the 2nd quarter valued at $621,000. Cetera Investment Advisers increased its stake in shares of HP by 154.7% in the first 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 raised its holdings in shares of HP by 24.1% during the third quarter. National Pension Service now owns 2,162,772 shares of the computer maker’s stock worth $77,579,000 after purchasing an additional 419,774 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Price Performance

HP stock opened at $37.93 on Friday. The business has a 50 day simple moving average of $36.26 and a 200-day simple moving average of $35.24. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.52. The stock has a market capitalization of $36.55 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07.

HP (NYSE:HPQ) last issued its earnings results 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). The business had revenue of $13.52 billion for 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 business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.86 earnings per share. As a group, equities research analysts anticipate that HP Inc. will post 3.39 EPS for the current year.

HP announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the transaction, the chief executive officer now owns 3 shares in the company, valued at $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HPQ. UBS Group lifted their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Loop Capital decreased their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Barclays dropped their price objective 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. Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, HP has an average rating of “Hold” and a consensus price target of $35.45.

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.