Asset Management Group Inc. Sells 3,086 Shares of HP Inc. (NYSE:HPQ)

Asset Management Group Inc. decreased its holdings in shares of HP Inc. (NYSE:HPQ) by 18.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,959 shares of the computer maker’s stock after selling 3,086 shares during the period. Asset Management Group Inc.’s holdings in HP were worth $501,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LVW Advisors LLC grew its holdings in shares of HP by 1.2% during the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after acquiring an additional 278 shares during the period. Castleview Partners LLC grew its holdings in shares of HP by 8.1% during 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 during the period. Versant Capital Management Inc grew its holdings 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 acquiring an additional 297 shares during the period. King Luther Capital Management Corp grew its holdings in shares of HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after acquiring an additional 303 shares during the period. Finally, Arvest Investments Inc. grew its holdings in shares of HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after acquiring an additional 310 shares during the period. Institutional investors own 77.53% of the company’s stock.

Insider Activity

In related news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on HPQ. Morgan Stanley reduced their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. cut their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday. Loop Capital cut their price target on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Friday, September 27th. Finally, Barclays cut 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.45.

HP Price Performance

NYSE HPQ opened at $37.93 on Friday. The business’s fifty day moving average price is $36.26 and its 200-day moving average price is $35.24. The stock has a market capitalization of $36.55 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.52 and a beta of 1.07. HP Inc. has a 1-year low of $27.42 and a 1-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 the consensus estimate of $0.86 by ($0.03). The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. Equities research analysts anticipate that HP Inc. will post 3.39 EPS for the current year.

HP declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are 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.