Maia Wealth LLC Acquires Shares of 6,000 HP Inc. (NYSE:HPQ)

Maia Wealth LLC bought a new position in shares of HP Inc. (NYSE:HPQ) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,000 shares of the computer maker’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LVW Advisors LLC lifted its holdings in shares of HP by 1.2% during the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after purchasing an additional 278 shares during the period. Castleview Partners LLC boosted its stake in shares of HP by 8.1% in the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock worth $138,000 after buying an additional 289 shares during the last quarter. Versant Capital Management Inc grew its holdings in HP by 5.9% during the third quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after acquiring an additional 297 shares during the period. WMG Financial Advisors LLC raised its position in HP by 4.2% during the second quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock valued at $274,000 after acquiring an additional 315 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its holdings in HP by 4.3% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock valued at $277,000 after acquiring an additional 316 shares during the period. Institutional investors own 77.53% of the company’s stock.

Insider Activity

In related news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were 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 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 is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HPQ. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Friday, September 27th. Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Tuesday, October 1st. 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. Barclays cut their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, Morgan Stanley decreased their target price 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 given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.55.

HP Trading Up 0.7 %

HPQ opened at $36.91 on Thursday. The firm has a market capitalization of $35.57 billion, a PE ratio of 12.95, a PEG ratio of 2.46 and a beta of 1.07. HP Inc. has a twelve month low of $27.01 and a twelve month high of $39.52. The firm’s 50-day moving average price is $35.72 and its 200 day moving average price is $34.59.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. 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 approved a stock buyback plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.