Beacon Pointe Advisors LLC Purchases 2,799 Shares of HP Inc. (NYSE:HPQ)

Beacon Pointe Advisors LLC grew its position in shares of HP Inc. (NYSE:HPQ) by 12.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,823 shares of the computer maker’s stock after purchasing an additional 2,799 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in HP were worth $810,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HPQ. Synergy Asset Management LLC purchased a new position in shares of HP during the fourth quarter worth approximately $26,000. Stonebridge Financial Group LLC bought a new position in shares of HP during the 4th quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in HP in the 4th quarter worth $36,000. OFI Invest Asset Management bought a new stake in HP in the fourth quarter worth $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in HP during the fourth quarter valued at about $50,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares of the company’s stock, valued at $4,814.81. The trade was a 99.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

HP Stock Performance

Shares of NYSE:HPQ opened at $25.96 on Friday. The firm has a market capitalization of $24.47 billion, a P/E ratio of 9.24, a P/E/G ratio of 2.96 and a beta of 1.09. The stock has a 50 day moving average price of $26.77 and a 200-day moving average price of $31.97. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.80.

HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. On average, equities analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Morgan Stanley lowered their price objective on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. StockNews.com lowered HP from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Evercore ISI decreased their target price on shares of HP from $40.00 to $32.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Finally, Citigroup dropped their price target on shares of HP from $36.50 to $25.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $33.83.

HP Company 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.