Centennial Bank AR Sells 786 Shares of HP Inc. (NYSE:HPQ)

Centennial Bank AR trimmed its holdings in shares of HP Inc. (NYSE:HPQ) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,647 shares of the computer maker’s stock after selling 786 shares during the quarter. Centennial Bank AR’s holdings in HP were worth $1,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HPQ. Triad Wealth Partners LLC bought a new stake in shares of HP in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HP during the 2nd quarter worth about $34,000. Wolff Wiese Magana LLC grew its position in shares of HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after buying an additional 518 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of HP in the third quarter valued at about $37,000. Finally, DecisionPoint Financial LLC bought a new position in shares of HP during the second quarter worth about $43,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on HPQ shares. Loop Capital decreased their target price 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. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Friday, September 27th. Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Tuesday, October 1st. 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. Finally, Barclays dropped their price target on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, HP has a consensus rating of “Hold” and an average price target of $35.55.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 3 shares in the company, valued at $99.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

HP Price Performance

HPQ opened at $36.28 on Monday. HP Inc. has a fifty-two week low of $26.67 and a fifty-two week high of $39.52. The firm has a market capitalization of $34.96 billion, a PE ratio of 12.73, a P/E/G ratio of 2.59 and a beta of 1.07. The company’s 50-day moving average is $35.65 and its 200 day moving average is $34.45.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. As a group, analysts expect that HP Inc. will post 3.39 EPS for the current year.

HP announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

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.