Truvestments Capital LLC Invests $81,000 in HP Inc. (NYSE:HPQ)

Truvestments Capital LLC bought a new stake in shares of HP Inc. (NYSE:HPQ) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,259 shares of the computer maker’s stock, valued at approximately $81,000.

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

Insider Buying and Selling

In related news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Down 0.6 %

Shares of NYSE HPQ 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 50 day moving average of $36.56 and a 200 day moving average of $35.53. The firm has a market cap of $37.66 billion, a P/E ratio of 13.71, a PEG ratio of 2.62 and a beta of 1.07.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. During the same quarter in the prior year, the business earned $0.90 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to buy up to 28.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

HPQ has been the subject of several research reports. Loop Capital decreased their target price on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Friday, September 27th. UBS Group raised their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Tuesday, October 1st. Finally, Morgan Stanley lowered their price target 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.45.

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.