Moss Adams Wealth Advisors LLC Makes New Investment in HP Inc. (NYSE:HPQ)

Moss Adams Wealth Advisors LLC bought a new position in shares of HP Inc. (NYSE:HPQ) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,835 shares of the computer maker’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton raised its stake in shares of HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after purchasing an additional 397 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of HP in the 4th quarter valued at about $28,000. Janiczek Wealth Management LLC raised its stake in shares of HP by 116.7% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 566 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of HP in the 4th quarter valued at about $34,000. Finally, Salem Investment Counselors Inc. raised its stake in shares of HP by 47.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after purchasing an additional 380 shares during the period. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of recent research reports. HSBC raised HP from a “hold” rating to a “buy” rating and lifted their target price for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, Barclays lifted their target price on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.11.

HP Stock Performance

Shares of HPQ stock traded down $0.01 during trading on Tuesday, hitting $28.41. The company had a trading volume of 3,859,031 shares, compared to its average volume of 7,765,910. The firm has a market capitalization of $27.86 billion, a P/E ratio of 8.31, a price-to-earnings-growth ratio of 2.36 and a beta of 1.06. The stock’s 50-day moving average price is $29.18 and its 200 day moving average price is $28.95. HP Inc. has a one year low of $25.22 and a one year high of $33.90.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. The business had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $13.56 billion. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. On average, research analysts anticipate that HP Inc. will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling at HP

In other HP news, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the transaction, the director now directly owns 60,216 shares in the company, valued at $1,807,082.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other HP news, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the transaction, the director now directly owns 60,216 shares in the company, valued at $1,807,082.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kristen M. Ludgate sold 41,015 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the transaction, the insider now owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The disclosure for this sale can be found here. Insiders sold a total of 116,723 shares of company stock worth $3,479,287 over the last three months. Corporate insiders own 0.41% of the company’s stock.

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.