Olympiad Research LP Purchases New Shares in HP Inc. (NYSE:HPQ)

Olympiad Research LP acquired a new position in HP Inc. (NYSE:HPQ) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,226 shares of the computer maker’s stock, valued at approximately $582,000.

Other institutional investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new position in shares of HP in the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in HP in the second quarter worth $34,000. Wolff Wiese Magana LLC grew its stake in HP by 115.1% in the 3rd 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 during the period. ORG Wealth Partners LLC bought a new position in HP in the 3rd quarter valued at $37,000. Finally, DecisionPoint Financial LLC bought a new position in HP in the 2nd quarter valued at $43,000. 77.53% of the stock is owned by institutional investors.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on HPQ shares. Barclays reduced their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. UBS Group upped their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Tuesday, October 1st. Finally, Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Friday, September 27th. 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. According to MarketBeat.com, HP currently has an average rating of “Hold” and an average price target of $35.55.

HP Stock Performance

Shares of HPQ opened at $36.91 on Thursday. The stock’s 50-day simple moving average is $35.72 and its 200 day simple moving average is $34.59. The stock has a market capitalization of $35.57 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 2.46 and a beta of 1.07. HP Inc. has a 52-week low of $27.01 and a 52-week high of $39.52.

HP (NYSE:HPQ) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.86 EPS. On average, research analysts forecast that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has authorized a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is 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.