Mainstay Capital Management LLC ADV Raises Stake in HP Inc. (NYSE:HPQ)

Mainstay Capital Management LLC ADV boosted its holdings in shares of HP Inc. (NYSE:HPQ) by 0.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,595 shares of the computer maker’s stock after buying an additional 415 shares during the quarter. HP accounts for about 0.3% of Mainstay Capital Management LLC ADV’s portfolio, making the stock its 25th largest holding. Mainstay Capital Management LLC ADV’s holdings in HP were worth $2,066,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sawyer & Company Inc boosted its stake in shares of HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after buying an additional 900 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in HP during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HP during the second quarter valued at $34,000. Wolff Wiese Magana LLC increased its holdings in HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after buying an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of HP in the third quarter worth about $37,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of analyst reports. Morgan Stanley dropped their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Loop Capital reduced their target price on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Tuesday, October 1st. Barclays reduced their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, UBS Group lifted their price objective on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, HP presently has an average rating of “Hold” and an average target price of $35.55.

HP Stock Up 1.7 %

Shares of NYSE:HPQ opened at $36.47 on Friday. The business has a fifty day moving average of $35.46 and a two-hundred day moving average of $34.02. The stock has a market cap of $35.69 billion, a P/E ratio of 12.32, a PEG ratio of 2.67 and a beta of 1.07. HP Inc. has a 52-week low of $25.67 and a 52-week high of $39.52.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. HP’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. On average, equities analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its board has authorized a stock buyback 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

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 value of $7,013,373.16. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by company insiders.

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.