Centennial Bank AR Has $1.03 Million Stock Position in HP Inc. (NYSE:HPQ)

Centennial Bank AR decreased its stake in shares of HP Inc. (NYSE:HPQ) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,647 shares of the computer maker’s stock after selling 786 shares during the period. Centennial Bank AR’s holdings in HP were worth $1,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norden Group LLC bought a new stake in HP in the 1st quarter valued at approximately $665,000. Private Advisor Group LLC boosted its holdings in HP by 5.5% during the first quarter. Private Advisor Group LLC now owns 80,940 shares of the computer maker’s stock worth $2,446,000 after purchasing an additional 4,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in HP by 11.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 268,807 shares of the computer maker’s stock valued at $7,611,000 after purchasing an additional 28,252 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in HP by 6.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 143,932 shares of the computer maker’s stock valued at $4,350,000 after buying an additional 8,991 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in HP by 37.9% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 29,253 shares of the computer maker’s stock worth $884,000 after buying an additional 8,039 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at HP

In other news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by insiders.

HP Price Performance

Shares of NYSE HPQ opened at $36.28 on Monday. The firm has a market cap of $34.96 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 2.59 and a beta of 1.07. The stock’s fifty day moving average price is $35.65 and its two-hundred day moving average price is $34.45. HP Inc. has a one year low of $26.67 and a one year high of $39.52.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that HP Inc. will post 3.39 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Loop Capital lowered their target price on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, October 1st. Morgan Stanley decreased their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.55.

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.