Great Valley Advisor Group Inc. Buys 814 Shares of HP Inc. (NYSE:HPQ)

Great Valley Advisor Group Inc. boosted its position in shares of HP Inc. (NYSE:HPQ) by 7.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,171 shares of the computer maker’s stock after acquiring an additional 814 shares during the period. Great Valley Advisor Group Inc.’s holdings in HP were worth $401,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in HPQ. Lazard Asset Management LLC boosted its stake in HP by 3,567.3% in the 1st quarter. Lazard Asset Management LLC now owns 34,143 shares of the computer maker’s stock worth $1,030,000 after purchasing an additional 33,212 shares during the period. Price T Rowe Associates Inc. MD grew its stake in HP by 1.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,191,666 shares of the computer maker’s stock valued at $36,013,000 after acquiring an additional 15,675 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of HP by 6.8% in the first quarter. California State Teachers Retirement System now owns 1,577,195 shares of the computer maker’s stock worth $47,663,000 after purchasing an additional 101,069 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of HP by 15.9% during the 1st quarter. Tidal Investments LLC now owns 114,994 shares of the computer maker’s stock worth $3,474,000 after acquiring an additional 15,815 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of HP during the 1st quarter valued at approximately $225,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of NYSE HPQ opened at $39.08 on Wednesday. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The firm has a market capitalization of $37.66 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 2.62 and a beta of 1.07. The stock has a 50 day moving average price of $36.56 and a 200 day moving average price of $35.53.

HP (NYSE:HPQ) last issued its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 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 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. Analysts forecast that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its board has authorized a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HPQ shares. Morgan Stanley reduced their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, September 27th. 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 cut their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Finally, Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, HP presently has an average rating of “Hold” and an average target price of $35.45.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the completion of the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. This represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.41% of the company’s stock.

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.