CENTRAL TRUST Co Cuts Stock Position in HP Inc. (NYSE:HPQ)

CENTRAL TRUST Co decreased its holdings in shares of HP Inc. (NYSE:HPQ) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,330 shares of the computer maker’s stock after selling 656 shares during the quarter. CENTRAL TRUST Co’s holdings in HP were worth $4,101,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. LVW Advisors LLC raised its stake in HP by 1.2% in the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after buying an additional 278 shares in the last quarter. Castleview Partners LLC raised its position in shares of HP by 8.1% in the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock worth $138,000 after acquiring an additional 289 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of HP by 5.9% during the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after purchasing an additional 297 shares during the last quarter. WMG Financial Advisors LLC boosted its position in HP by 4.2% during the second quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock valued at $274,000 after purchasing an additional 315 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its stake in HP by 2.9% in the second quarter. J.W. Cole Advisors Inc. now owns 12,296 shares of the computer maker’s stock valued at $431,000 after purchasing an additional 345 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Trading Up 1.7 %

Shares of NYSE:HPQ opened at $36.47 on Friday. HP Inc. has a twelve month low of $25.67 and a twelve month high of $39.52. The company’s 50 day moving average is $35.46 and its 200 day moving average is $34.02. The company has a market cap of $35.69 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 2.67 and a beta of 1.07.

HP (NYSE:HPQ) last released its quarterly earnings data 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). The business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. Equities research analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at HP

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HPQ shares. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Friday, September 27th. Barclays cut their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. UBS Group increased their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Tuesday, October 1st. Finally, Morgan Stanley decreased their price target on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.55.

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.