Kingsview Wealth Management LLC Has $243,000 Stock Holdings in HP Inc. (NYSE:HPQ)

Kingsview Wealth Management LLC lowered its position in shares of HP Inc. (NYSE:HPQ) by 92.6% in the third quarter, Holdings Channel reports. The institutional investor owned 6,777 shares of the computer maker’s stock after selling 84,669 shares during the period. Kingsview Wealth Management LLC’s holdings in HP were worth $243,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. LVW Advisors LLC raised its stake in HP by 1.2% in the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after purchasing an additional 278 shares in the last quarter. Castleview Partners LLC raised its position in shares of HP by 8.1% in the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after buying an additional 289 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of HP by 5.9% in the third quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock valued at $191,000 after buying an additional 297 shares during the period. King Luther Capital Management Corp grew its position in HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after buying an additional 303 shares in the last quarter. Finally, Arvest Investments Inc. increased its stake in 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.

Insiders Place Their Bets

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 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 $99.48. The trade was a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.41% of the company’s stock.

HP Stock Up 2.2 %

Shares of HPQ opened at $35.43 on Friday. The business has a 50-day simple moving average of $36.57 and a two-hundred day simple moving average of $35.56. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The stock has a market cap of $34.14 billion, a PE ratio of 12.61, a PEG ratio of 2.40 and a beta of 1.07.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. During the same quarter last year, the business earned $0.90 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP announced that its board has approved a share buyback plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to repurchase 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.

HP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a dividend of $0.2894 per share. This is a positive change from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Wednesday, December 11th. HP’s dividend payout ratio (DPR) is currently 40.93%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Cowen increased their target price on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday. Barclays raised their target price on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday. Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Morgan Stanley decreased 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 note on Thursday, August 29th. Finally, UBS Group upped their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.77.

HP 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.