Independent Advisor Alliance Boosts Stock Holdings in HP Inc. (NYSE:HPQ)

Independent Advisor Alliance lifted its stake in HP Inc. (NYSE:HPQ) by 426.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 38,378 shares of the computer maker’s stock after buying an additional 31,086 shares during the period. Independent Advisor Alliance’s holdings in HP were worth $1,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new position in HP in the 3rd quarter worth approximately $25,000. Triad Wealth Partners LLC bought a new position in shares of HP in the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HP in the second quarter worth $34,000. Wolff Wiese Magana LLC raised its holdings in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after buying an additional 518 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in HP during the 3rd quarter valued at $37,000. Institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays lowered their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. UBS Group boosted their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. dropped their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Morgan Stanley dropped their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, Loop Capital reduced 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.45.

HP Stock Down 0.6 %

HP stock opened at $39.08 on Wednesday. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The company has a market capitalization of $37.66 billion, a P/E ratio of 13.71, a PEG ratio of 2.62 and a beta of 1.07. The stock’s 50 day moving average is $36.56 and its 200 day moving average is $35.53.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 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 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. As a group, equities analysts expect that HP Inc. will post 3.39 EPS for the current year.

HP announced that its board has approved a share repurchase 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 generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were 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 owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.41% of the company’s stock.

About HP

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.