Olympiad Research LP Acquires New Position in HP Inc. (NYSE:HPQ)

Olympiad Research LP acquired a new stake in shares of HP Inc. (NYSE:HPQ) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,226 shares of the computer maker’s stock, valued at approximately $582,000.

Other large investors also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in shares of HP during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HP during the 2nd quarter worth approximately $34,000. Wolff Wiese Magana LLC grew its position in 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 last quarter. ORG Wealth Partners LLC bought a new position in HP during the 3rd quarter worth approximately $37,000. Finally, DecisionPoint Financial LLC bought a new position in HP during the 2nd quarter worth approximately $43,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by company insiders.

HP Trading Up 0.7 %

Shares of NYSE:HPQ opened at $36.91 on Thursday. The stock has a fifty day simple moving average of $35.72 and a two-hundred day simple moving average of $34.59. The stock has a market capitalization of $35.57 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.46 and a beta of 1.07. HP Inc. has a 12-month low of $27.01 and a 12-month high of $39.52.

HP (NYSE:HPQ) last announced 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 net margin of 5.33% and a negative return on equity of 266.37%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. As a group, equities research analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has authorized a stock buyback program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

HPQ has been the topic of several recent research reports. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Friday, September 27th. UBS Group lifted their price objective on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Barclays cut 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. lifted their price objective on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Tuesday, October 1st. One equities 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 stock. According to data from MarketBeat.com, HP presently has a consensus rating of “Hold” and a consensus target price of $35.55.

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.