Valeo Financial Advisors LLC Increases Holdings in HP Inc. (NYSE:HPQ)

Valeo Financial Advisors LLC raised its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 230.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,684 shares of the computer maker's stock after buying an additional 24,189 shares during the period. Valeo Financial Advisors LLC's holdings in HP were worth $1,244,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HPQ. Vanguard Group Inc. lifted its holdings in shares of HP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker's stock worth $3,649,919,000 after acquiring an additional 3,062,441 shares during the period. Wedge Capital Management L L P NC bought a new position in HP during the 2nd quarter worth about $62,672,000. DAVENPORT & Co LLC lifted its position in shares of HP by 10,188.2% in the first quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker's stock worth $53,680,000 after purchasing an additional 1,760,631 shares in the last quarter. DME Capital Management LP boosted its position in HP by 108.7% during the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker's stock valued at $118,124,000 after purchasing an additional 1,757,070 shares during the last quarter. Finally, Primecap Management Co. CA grew its position in shares of HP by 6.2% in the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker's stock valued at $786,237,000 after acquiring an additional 1,319,731 shares during the period. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Price Performance

NYSE:HPQ traded up $0.26 during mid-day trading on Friday, reaching $37.01. The stock had a trading volume of 5,832,183 shares, compared to its average volume of 7,961,795. The stock has a 50-day simple moving average of $34.91 and a two-hundred day simple moving average of $33.63. HP Inc. has a 12 month low of $25.67 and a 12 month high of $39.52. The stock has a market capitalization of $36.22 billion, a PE ratio of 12.50, a P/E/G ratio of 2.67 and a beta of 1.07.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly 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 business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same period last year, the firm posted $0.86 EPS. HP's quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts expect that HP Inc. will post 3.39 EPS for the current year.

HP declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Enrique Lores sold 211,501 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were 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 of the company's stock, valued at approximately $99.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on HPQ. Barclays decreased their price objective on shares of HP from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Thursday, August 29th. Loop Capital cut their price objective on shares of HP from $37.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, September 5th. UBS Group upped their target price on HP from $34.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, August 29th. Bank of America cut HP from a "buy" rating to a "neutral" rating and set a $37.00 price target for the company. in a report on Friday, September 27th. Finally, Morgan Stanley lowered their price objective 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $35.55.

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.