Olympiad Research LP Makes New Investment in HP Inc. (NYSE:HPQ)

Olympiad Research LP purchased a new stake in HP Inc. (NYSE:HPQ - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,226 shares of the computer maker's stock, valued at approximately $582,000.

Several other large investors have also recently modified their holdings of the business. Triad Wealth Partners LLC acquired a new position in HP during the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HP in the second quarter valued at $34,000. Wolff Wiese Magana LLC raised its holdings in shares of HP by 115.1% during the third 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 position in shares of HP during the 3rd quarter worth about $37,000. Finally, DecisionPoint Financial LLC acquired a new stake in shares of HP in the 2nd quarter valued at about $43,000. Institutional investors own 77.53% of the company's stock.

Insider Activity at HP

In other news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction dated Thursday, September 12th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HPQ has been the topic of several recent research reports. Citigroup lowered HP from a "buy" rating to a "neutral" rating and set a $37.00 price target on the stock. in a report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price target on shares of HP from $38.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, August 23rd. Barclays lowered 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. Bank of America cut shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price objective for the company. in a report on Friday, September 27th. Finally, Loop Capital lowered their target price on shares of HP from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $35.55.

HP Stock Performance

HPQ stock traded up $0.43 during mid-day trading on Thursday, hitting $37.34. The company had a trading volume of 5,751,135 shares, compared to its average volume of 7,774,626. HP Inc. has a 12 month low of $27.01 and a 12 month high of $39.52. The stock's fifty day moving average price is $35.72 and its two-hundred day moving average price is $34.59. The firm has a market cap of $35.99 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.07.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.86 earnings per share. Equities analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its Board of Directors has approved a stock repurchase program 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 programs are generally an indication that the company's leadership believes its shares are undervalued.

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.