Cantor Fitzgerald Investment Advisors L.P. Sells 29,234 Shares of HP Inc. (NYSE:HPQ)

Cantor Fitzgerald Investment Advisors L.P. reduced its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 588,350 shares of the computer maker's stock after selling 29,234 shares during the quarter. HP accounts for approximately 1.2% of Cantor Fitzgerald Investment Advisors L.P.'s portfolio, making the stock its 27th largest holding. Cantor Fitzgerald Investment Advisors L.P. owned 0.06% of HP worth $16,291,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in HPQ. Abundance Wealth Counselors increased its stake in HP by 7.9% in the first quarter. Abundance Wealth Counselors now owns 36,971 shares of the computer maker's stock valued at $1,024,000 after purchasing an additional 2,701 shares during the last quarter. Blue Trust Inc. grew its stake in HP by 14.0% in the first quarter. Blue Trust Inc. now owns 8,915 shares of the computer maker's stock worth $247,000 after purchasing an additional 1,098 shares in the last quarter. Global X Japan Co. Ltd. acquired a new stake in shares of HP during the 1st quarter valued at approximately $43,000. Centennial Wealth Advisory LLC raised its stake in HP by 24.1% during the first quarter. Centennial Wealth Advisory LLC now owns 12,598 shares of the computer maker's stock worth $349,000 after acquiring an additional 2,445 shares during the period. Finally, Johnson Investment Counsel Inc. raised its position in shares of HP by 6.3% during the 1st quarter. Johnson Investment Counsel Inc. now owns 31,282 shares of the computer maker's stock worth $866,000 after purchasing an additional 1,850 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Trading Down 0.1%

NYSE:HPQ traded down $0.02 during trading hours on Friday, hitting $24.16. 19,506,462 shares of the company traded hands, compared to its average volume of 7,893,209. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80. The firm has a 50-day moving average of $25.81 and a 200 day moving average of $29.52. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 1.96 and a beta of 1.30.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The company had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period in the prior year, the company posted $0.82 EPS. The firm's quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.79%. The ex-dividend date is Wednesday, September 10th. HP's payout ratio is presently 44.79%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HPQ shares. UBS Group reduced their target price on HP from $37.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Wall Street Zen upgraded HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Citigroup cut their price objective on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Loop Capital decreased their target price on HP from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, March 4th. Finally, Bank of America lowered their price target on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $29.54.

Insider Activity

In other news, insider Stephanie Liebman sold 15,646 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares of the company's stock, valued at approximately $4,814.81. The trade was a 99.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company 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.