Next Level Private LLC Sells 695 Shares of HP Inc. (NYSE:HPQ)

Next Level Private LLC reduced its holdings in shares of HP Inc. (NYSE:HPQ) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,305 shares of the computer maker’s stock after selling 695 shares during the period. Next Level Private LLC’s holdings in HP were worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HPQ. Triad Wealth Partners LLC bought a new stake in HP in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HP during the 2nd quarter worth approximately $34,000. Sawyer & Company Inc increased its stake in HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after purchasing an additional 900 shares during the period. Rise Advisors LLC lifted its position in HP by 377.9% in the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares during the last quarter. Finally, DecisionPoint Financial LLC bought a new position in shares of HP in the second quarter worth approximately $43,000. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Loop Capital lowered their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Friday, September 27th. Morgan Stanley cut their price objective on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Barclays decreased their target price on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Finally, Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.55.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.

HP Trading Up 0.7 %

Shares of NYSE:HPQ 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 has a market capitalization of $36.23 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 2.67 and a beta of 1.07. The stock has a fifty day simple moving average of $34.91 and a two-hundred day simple moving average of $33.61.

HP (NYSE:HPQ) last announced 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 firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. As a group, equities research analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.