Consolidated Planning Corp Invests $4.91 Million in HP Inc. (NYSE:HPQ)

Consolidated Planning Corp bought a new stake in HP Inc. (NYSE:HPQ - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 136,889 shares of the computer maker's stock, valued at approximately $4,910,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HPQ. Triad Wealth Partners LLC acquired a new position in shares of HP during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of HP during the 2nd quarter worth approximately $34,000. Wolff Wiese Magana LLC boosted its stake in shares of HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker's stock worth $35,000 after acquiring an additional 518 shares during the period. ORG Wealth Partners LLC bought a new position in shares of HP during the 3rd quarter worth approximately $37,000. Finally, DecisionPoint Financial LLC bought a new stake in HP in the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 77.53% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HPQ shares. JPMorgan Chase & Co. boosted their price target on HP from $38.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, August 23rd. Loop Capital lowered their price target on HP from $37.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, September 5th. Barclays lowered their target price on HP from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, August 29th. Morgan Stanley lowered their target price on HP from $37.00 to $36.00 and set an "equal weight" rating for the company in a report 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 report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $35.55.

Insider Buying and Selling

In other HP 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 transaction, the chief executive officer now owns 3 shares of the company's stock, valued at $99.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by insiders.

HP Stock Performance

Shares of HP stock traded down $0.52 on Friday, hitting $36.82. The company had a trading volume of 5,482,435 shares, compared to its average volume of 7,764,326. The stock has a market capitalization of $35.48 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 2.46 and a beta of 1.07. HP Inc. has a 1 year low of $27.01 and a 1 year high of $39.52. The stock has a 50 day moving average of $35.77 and a 200-day moving average of $34.67.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter last year, the business posted $0.86 earnings per share. HP's revenue was up 2.4% on a year-over-year basis. Equities analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its board has authorized a share buyback 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 generally a sign that the company's board of directors believes its stock is undervalued.

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.