Choreo LLC Purchases New Position in HP Inc. (NYSE:HPQ)

Choreo LLC purchased a new stake in shares of HP Inc. (NYSE:HPQ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 44,652 shares of the computer maker’s stock, valued at approximately $1,355,000.

A number of other hedge funds also recently bought and sold shares of the business. Paradigm Financial Partners LLC increased its holdings in HP by 8.0% during the 4th quarter. Paradigm Financial Partners LLC now owns 18,876 shares of the computer maker’s stock valued at $568,000 after purchasing an additional 1,393 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in HP during the 4th quarter valued at about $225,000. Addison Advisors LLC boosted its position in HP by 19.0% during the 4th quarter. Addison Advisors LLC now owns 6,751 shares of the computer maker’s stock valued at $203,000 after acquiring an additional 1,078 shares in the last quarter. Syon Capital LLC bought a new stake in HP during the 4th quarter valued at approximately $273,000. Finally, Meritage Portfolio Management bought a new stake in HP during the 4th quarter valued at approximately $3,670,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on HPQ shares. Barclays lifted their price objective on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. StockNews.com cut HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, HSBC raised HP from a “hold” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

HP Stock Down 0.6 %

Shares of HPQ opened at $28.09 on Wednesday. The business’s 50 day moving average price is $29.26 and its 200-day moving average price is $28.90. HP Inc. has a 52 week low of $25.22 and a 52 week high of $33.90. The stock has a market cap of $27.55 billion, a P/E ratio of 8.21, a P/E/G ratio of 2.36 and a beta of 1.05.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $13.56 billion. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. On average, equities analysts anticipate that HP Inc. will post 3.42 EPS for the current year.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 8,708 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the sale, the insider now directly owns 56,169 shares in the company, valued at approximately $1,642,381.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $30.93, for a total transaction of $269,338.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,723 shares of company stock valued at $3,479,287. 0.41% of the stock is owned by corporate insiders.

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.