LVW Advisors LLC Acquires 278 Shares of HP Inc. (NYSE:HPQ)

LVW Advisors LLC boosted its holdings in HP Inc. (NYSE:HPQ) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,884 shares of the computer maker’s stock after purchasing an additional 278 shares during the period. LVW Advisors LLC’s holdings in HP were worth $857,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new position in shares of HP in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HP in the second quarter valued at about $34,000. Sawyer & Company Inc raised its stake in shares of HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after acquiring an additional 900 shares during the last quarter. Rise Advisors LLC boosted its holdings in shares of HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares during the period. Finally, DecisionPoint Financial LLC bought a new stake in shares of HP in the second quarter worth about $43,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Trading Up 0.7 %

HPQ stock opened at $37.02 on Friday. HP Inc. has a 12-month low of $25.67 and a 12-month high of $39.52. The stock’s 50 day simple moving average is $34.91 and its 200 day simple moving average is $33.61. The stock has a market capitalization of $36.23 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 2.67 and a beta of 1.07.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. On average, research analysts predict that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related 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 transaction of $7,013,373.16. Following the transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on HPQ shares. Loop Capital lowered their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Barclays dropped their price target on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Tuesday, October 1st. UBS Group lifted their target price on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.55.

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.