Lebenthal Global Advisors LLC Purchases 2,464 Shares of HP Inc. (NYSE:HPQ)

Lebenthal Global Advisors LLC boosted its position in shares of HP Inc. (NYSE:HPQ) by 18.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,502 shares of the computer maker’s stock after acquiring an additional 2,464 shares during the period. Lebenthal Global Advisors LLC’s holdings in HP were worth $556,000 at the end of the most recent quarter.

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

HP Stock Up 2.5 %

NYSE:HPQ traded up $0.88 during trading hours on Friday, hitting $36.40. 567,172 shares of the stock were exchanged, compared to its average volume of 7,757,108. The company’s 50 day moving average is $35.64 and its two-hundred day moving average is $34.30. HP Inc. has a twelve month low of $26.67 and a twelve month high of $39.52. The company has a market capitalization of $35.08 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 2.66 and a beta of 1.07.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion during 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 business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.86 EPS. On average, equities research analysts expect that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes 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.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. 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 lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, October 1st. Morgan Stanley decreased their price target 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. 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. Finally, UBS Group increased their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.55.

Insider Activity

In other 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 transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.