HP Inc. (NYSE:HPQ) Shares Sold by CFS Investment Advisory Services LLC

CFS Investment Advisory Services LLC lessened its holdings in HP Inc. (NYSE:HPQ) by 6.2% in the third quarter, HoldingsChannel.com reports. The firm owned 5,588 shares of the computer maker’s stock after selling 367 shares during the period. CFS Investment Advisory Services LLC’s holdings in HP were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. LVW Advisors LLC raised its position 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 acquiring an additional 278 shares in the last quarter. Castleview Partners LLC raised its position in HP by 8.1% in the third 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 raised its position in HP by 5.9% in the third 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 in the last quarter. King Luther Capital Management Corp raised its position in HP by 3.2% in the third 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 in the last quarter. Finally, Arvest Investments Inc. raised its position in HP by 0.9% in the third 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 in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of analyst reports. 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 note on Thursday, September 5th. Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Tuesday, October 1st. Bank of America cut 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. Morgan Stanley dropped their price target on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, UBS Group lifted their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating 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 given a buy rating to the company’s stock. According to data from MarketBeat, HP has an average rating of “Hold” and a consensus target price of $35.45.

HP Price Performance

NYSE:HPQ opened at $38.13 on Friday. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.52. The stock’s 50-day moving average is $36.36 and its two-hundred day moving average is $35.31. The stock has a market cap of $36.75 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.61 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 business had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same period last year, the firm earned $0.86 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction dated 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 directly owns 3 shares in the company, valued at $99.48. The trade was a 100.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by corporate insiders.

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.