Catalyst Capital Advisors LLC Invests $63,000 in HP Inc. (NYSE:HPQ)

Catalyst Capital Advisors LLC acquired a new stake in shares of HP Inc. (NYSE:HPQ) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 1,753 shares of the computer maker’s stock, valued at approximately $63,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HPQ. Triad Wealth Partners LLC bought a new stake in shares of HP during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HP during the second quarter valued at approximately $34,000. Wolff Wiese Magana LLC grew 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 worth $35,000 after buying an additional 518 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of HP in the 3rd quarter worth $37,000. Finally, DecisionPoint Financial LLC purchased a new stake in shares of HP during the 2nd quarter valued at $43,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Up 0.7 %

Shares of HPQ opened at $36.91 on Thursday. The firm has a fifty day simple moving average of $35.72 and a two-hundred day simple moving average of $34.59. HP Inc. has a twelve month low of $27.01 and a twelve month high of $39.52. The stock has a market capitalization of $35.57 billion, a P/E ratio of 12.95, a PEG ratio of 2.46 and a beta of 1.07.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 earnings per share. Sell-side analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HPQ. Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Tuesday, October 1st. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Friday, September 27th. UBS Group upped their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Barclays decreased their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.55.

Insider Activity

In related news, CEO Enrique Lores sold 211,501 shares of the firm’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 sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.41% of the company’s stock.

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.