HP Inc. (NYSE:HPQ) Shares Sold by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC cut its position in HP Inc. (NYSE:HPQ) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,752 shares of the computer maker’s stock after selling 283 shares during the period. Elevated Capital Advisors LLC’s holdings in HP were worth $709,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Waldron Private Wealth LLC increased its holdings in shares of HP by 40.9% in the third quarter. Waldron Private Wealth LLC now owns 10,637 shares of the computer maker’s stock valued at $382,000 after purchasing an additional 3,089 shares during the period. Eastern Bank purchased a new stake in shares of HP in the third quarter worth about $300,000. Signaturefd LLC boosted its stake in shares of HP by 3.6% in the third quarter. Signaturefd LLC now owns 18,142 shares of the computer maker’s stock worth $651,000 after buying an additional 631 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of HP by 3.7% in the third quarter. Sequoia Financial Advisors LLC now owns 23,413 shares of the computer maker’s stock worth $840,000 after buying an additional 832 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in shares of HP by 26.3% in the third quarter. Foundations Investment Advisors LLC now owns 9,038 shares of the computer maker’s stock worth $324,000 after buying an additional 1,884 shares during the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Stock Performance

NYSE:HPQ opened at $35.85 on Thursday. HP Inc. has a one year low of $25.67 and a one year high of $39.52. The stock has a market cap of $35.08 billion, a PE ratio of 12.11, a P/E/G ratio of 2.67 and a beta of 1.07. The stock has a 50 day moving average price of $35.46 and a 200 day moving average price of $34.02.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same period in the prior year, the business posted $0.86 EPS. HP’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup downgraded 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. UBS Group increased their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Loop Capital lowered their price target on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Finally, Morgan Stanley lowered their price target 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $35.55.

Insider Activity at HP

In related news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction that occurred 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 approximately $99.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.41% of the company’s stock.

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.