SteelPeak Wealth LLC Has $223,000 Stake in HP Inc. (NYSE:HPQ)

SteelPeak Wealth LLC trimmed its stake in HP Inc. (NYSE:HPQ) by 13.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,182 shares of the computer maker’s stock after selling 943 shares during the period. SteelPeak Wealth LLC’s holdings in HP were worth $223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Triad Wealth Partners LLC bought a new position in shares of HP during the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of HP during the 2nd quarter worth about $34,000. Wolff Wiese Magana LLC lifted its holdings in shares of HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after acquiring an additional 518 shares during the period. ORG Wealth Partners LLC bought a new position in shares of HP during the 3rd quarter worth about $37,000. Finally, DecisionPoint Financial LLC bought a new position in shares of HP during the 2nd quarter worth about $43,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HPQ shares. Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. lifted their price target on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Morgan Stanley cut their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. UBS Group lifted their price target on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.55.

HP Trading Up 2.1 %

HPQ opened at $36.28 on Friday. The stock has a market capitalization of $34.96 billion, a PE ratio of 12.73, a PEG ratio of 2.66 and a beta of 1.07. HP Inc. has a 1-year low of $26.67 and a 1-year high of $39.52. The firm has a 50-day moving average price of $35.65 and a two-hundred day moving average price of $34.36.

HP (NYSE:HPQ) last issued 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 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 analyst estimates of $13.37 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction that occurred on 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 owns 3 shares in the company, valued at $99.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by corporate insiders.

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.