Centennial Bank AR Sells 755 Shares of HP Inc. (NYSE:HPQ)

Centennial Bank AR cut its stake in shares of HP Inc. (NYSE:HPQ) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,433 shares of the computer maker’s stock after selling 755 shares during the period. Centennial Bank AR’s holdings in HP were worth $1,031,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of HP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after buying an additional 3,062,441 shares during the period. Schroder Investment Management Group increased its stake in HP by 1,472.4% in the fourth quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock valued at $68,126,000 after purchasing an additional 2,120,096 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in HP in the second quarter worth $62,672,000. DAVENPORT & Co LLC boosted its position in shares of HP by 10,188.2% during the first quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock worth $53,680,000 after purchasing an additional 1,760,631 shares in the last quarter. Finally, DME Capital Management LP grew its holdings in shares of HP by 108.7% in the 2nd quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after buying an additional 1,757,070 shares during the period. Institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HPQ. Loop Capital dropped their price target on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. 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 note on Friday, August 23rd. Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Friday, September 27th. Morgan Stanley cut their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Finally, Barclays lowered their target price on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.55.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.41% of the company’s stock.

HP Trading Down 3.1 %

NYSE:HPQ opened at $34.75 on Wednesday. HP Inc. has a 1-year low of $25.56 and a 1-year high of $39.52. The firm has a fifty day simple moving average of $34.87 and a 200 day simple moving average of $33.31. The stock has a market capitalization of $34.00 billion, a PE ratio of 11.74, a P/E/G ratio of 2.35 and a beta of 1.07.

HP (NYSE:HPQ) last released its earnings results 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). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. During the same period in the prior year, the business posted $0.86 earnings per share. HP’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its board has approved a share buyback plan 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 shares through open market purchases. Shares repurchase plans are typically 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.