Abich Financial Wealth Management LLC Has $61,000 Holdings in HP Inc. (NYSE:HPQ)

Abich Financial Wealth Management LLC lessened its stake in HP Inc. (NYSE:HPQ) by 62.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,714 shares of the computer maker’s stock after selling 2,792 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in HP were worth $61,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HPQ. Triad Wealth Partners LLC bought a new position in HP during the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in HP during the 2nd quarter worth $34,000. Wolff Wiese Magana LLC increased its stake in HP by 115.1% in 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. ORG Wealth Partners LLC bought a new stake in shares of HP during the 3rd quarter worth $37,000. Finally, DecisionPoint Financial LLC bought a new stake in HP in the 2nd quarter valued at about $43,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. 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 increased 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. Loop Capital reduced their target price 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. Finally, Barclays decreased their price target on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.55.

Insider Buying and Selling at HP

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 value of $7,013,373.16. Following the completion of the transaction, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by insiders.

HP Stock Down 0.3 %

HP stock traded down $0.11 during trading on Tuesday, reaching $37.31. The stock had a trading volume of 828,360 shares, compared to its average volume of 7,787,188. The stock has a market cap of $36.51 billion, a PE ratio of 12.64, a P/E/G ratio of 2.64 and a beta of 1.07. The business has a 50 day moving average price of $35.56 and a 200 day moving average price of $34.22. HP Inc. has a 52-week low of $25.90 and a 52-week high of $39.52.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (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 negative return on equity of 266.37% and a net margin of 5.33%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. On average, equities analysts predict that HP Inc. will post 3.39 EPS for the current fiscal year.

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

HP 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.