Truvestments Capital LLC Invests $81,000 in HP Inc. (NYSE:HPQ)

Truvestments Capital LLC bought a new stake in shares of HP Inc. (NYSE:HPQ) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,259 shares of the computer maker’s stock, valued at approximately $81,000.

Several other hedge funds have also bought and sold shares of HPQ. Ashton Thomas Securities LLC purchased a new position in shares of HP during the 3rd quarter valued at about $25,000. Triad Wealth Partners LLC purchased a new stake in HP in the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HP during the 2nd quarter worth approximately $34,000. Wolff Wiese Magana LLC lifted its holdings in HP by 115.1% during 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. Finally, ORG Wealth Partners LLC bought a new position in shares of HP in the third quarter worth approximately $37,000. Institutional investors own 77.53% of the company’s stock.

Insider Transactions at HP

In other 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 value of $7,013,373.16. Following the completion of the sale, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Friday, September 27th. Barclays lowered their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. cut their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Tuesday, October 1st. Finally, UBS Group upped their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $35.45.

HP Stock Down 0.6 %

HPQ stock opened at $39.08 on Wednesday. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79. The firm has a market capitalization of $37.66 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 2.62 and a beta of 1.07. The company has a fifty day simple moving average of $36.56 and a two-hundred day simple moving average of $35.53.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter last year, the firm earned $0.90 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts anticipate that HP Inc. will post 3.39 EPS for the current year.

HP announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors 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.