Alethea Capital Management LLC Acquires New Stake in HP Inc. (NYSE:HPQ)

Alethea Capital Management LLC bought a new stake in shares of HP Inc. (NYSE:HPQ - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,303 shares of the computer maker's stock, valued at approximately $401,000. HP accounts for 0.3% of Alethea Capital Management LLC's portfolio, making the stock its 9th biggest position.

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

Insider Buying and Selling

In other news, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now directly owns 169 shares in the company, valued at $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephanie Liebman sold 15,646 shares of the firm's 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. Corporate insiders own 0.38% of the company's stock.

HP Price Performance

HPQ stock opened at $25.96 on Friday. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.80. The company has a market cap of $24.47 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The company has a fifty day moving average price of $26.77 and a 200 day moving average price of $31.93.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. As a group, analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Loop Capital lowered their price target on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, March 4th. Barclays boosted their target price on shares of HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. cut their price target on HP from $40.00 to $29.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. 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. Finally, Citigroup cut their target price on HP from $36.50 to $25.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, HP has an average rating of "Hold" and a consensus target price 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.

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