HP Inc. (NYSE:HPQ) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its position in shares of HP Inc. (NYSE:HPQ) by 3.7% in the third quarter, HoldingsChannel reports. The firm owned 23,413 shares of the computer maker’s stock after acquiring an additional 832 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in HP were worth $840,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. grew its position in HP by 136.8% during the 1st quarter. Sunbelt Securities Inc. now owns 1,769 shares of the computer maker’s stock worth $53,000 after purchasing an additional 1,022 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in HP by 2.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 188,350 shares of the computer maker’s stock worth $5,692,000 after acquiring an additional 4,815 shares during the period. Trilogy Capital Inc. purchased a new position in HP during the first quarter valued at approximately $2,620,000. LVW Advisors LLC lifted its holdings in HP by 38.3% in the first quarter. LVW Advisors LLC now owns 17,264 shares of the computer maker’s stock valued at $522,000 after acquiring an additional 4,782 shares during the period. Finally, Diversified Trust Co boosted its position in HP by 167.7% in the 1st quarter. Diversified Trust Co now owns 75,429 shares of the computer maker’s stock worth $2,279,000 after purchasing an additional 47,252 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’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 owns 3 shares of the company’s stock, valued at approximately $99.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on HPQ shares. Loop Capital decreased their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Bank of America cut 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. UBS Group upped their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Morgan Stanley dropped their price objective on HP from $37.00 to $36.00 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 issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.55.

HP Stock Performance

Shares of HPQ stock opened at $36.88 on Friday. HP Inc. has a fifty-two week low of $25.67 and a fifty-two week high of $39.52. The firm has a market capitalization of $35.54 billion, a P/E ratio of 12.94, a PEG ratio of 2.64 and a beta of 1.07. The stock’s fifty day moving average is $35.50 and its two-hundred day moving average is $34.09.

HP (NYSE:HPQ) last posted its quarterly 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 business had revenue of $13.52 billion for the quarter, compared to analyst estimates 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 was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. On average, equities analysts forecast that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is 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.