Lifeworks Advisors LLC Has $2.54 Million Stock Position in HP Inc. (NYSE:HPQ)

Lifeworks Advisors LLC boosted its holdings in shares of HP Inc. (NYSE:HPQ) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 70,787 shares of the computer maker’s stock after purchasing an additional 1,416 shares during the period. Lifeworks Advisors LLC’s holdings in HP were worth $2,539,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of HP in the third quarter valued at approximately $25,000. Triad Wealth Partners LLC acquired a new stake in HP in the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HP during the 2nd quarter worth about $34,000. Wolff Wiese Magana LLC boosted its position 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 purchasing an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of HP during the 3rd quarter worth about $37,000. 77.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 3 shares in the company, valued at $99.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank of America lowered shares of 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. Citigroup downgraded shares of 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. Loop Capital lowered their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. UBS Group boosted their price target on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley dropped their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.55.

HP Price Performance

Shares of NYSE HPQ traded up $0.13 during trading on Thursday, hitting $36.94. 563,608 shares of the company were exchanged, compared to its average volume of 7,730,612. The company has a market cap of $35.60 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 2.54 and a beta of 1.07. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.52. The firm’s fifty day moving average price is $35.87 and its 200 day moving average price is $34.91.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 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 analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS. On average, research analysts forecast that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors 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.