Tectonic Advisors LLC Purchases 3,688 Shares of HP Inc. (NYSE:HPQ)

Tectonic Advisors LLC grew its position in HP Inc. (NYSE:HPQ) by 7.1% during the third quarter, HoldingsChannel.com reports. The firm owned 55,699 shares of the computer maker’s stock after buying an additional 3,688 shares during the quarter. Tectonic Advisors LLC’s holdings in HP were worth $1,998,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new stake in shares of HP in the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HP in the second quarter valued at about $34,000. Wolff Wiese Magana LLC lifted its holdings in shares of HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after purchasing an additional 518 shares in the last quarter. Sawyer & Company Inc lifted its holdings in shares of HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after purchasing an additional 900 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of HP in the third quarter valued at about $37,000. 77.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other HP 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 transaction of $7,013,373.16. Following the completion of the sale, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. This 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 is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the topic of several analyst reports. Barclays dropped their target price on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Morgan Stanley dropped their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Friday, September 27th. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. upped their target price on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, HP currently has an average rating of “Hold” and an average target price of $35.55.

HP Price Performance

Shares of NYSE:HPQ opened at $36.47 on Friday. The business’s 50 day simple moving average is $35.46 and its 200 day simple moving average is $34.02. HP Inc. has a 1 year low of $25.67 and a 1 year high of $39.52. The company has a market capitalization of $35.69 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.67 and a beta of 1.07.

HP (NYSE:HPQ) last released its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has approved 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 purchase up to 28.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.