Arvest Bank Trust Division bought a new position in shares of HP Inc. (NYSE:HPQ - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 327,445 shares of the computer maker's stock, valued at approximately $11,745,000.
Several other institutional investors have also recently modified their holdings of HPQ. World Investment Advisors LLC acquired a new position in shares of HP in the 3rd quarter valued at $324,000. Sanctuary Advisors LLC increased its stake in HP by 66.2% during the third quarter. Sanctuary Advisors LLC now owns 160,094 shares of the computer maker's stock worth $6,104,000 after acquiring an additional 63,787 shares during the last quarter. Pine Valley Investments Ltd Liability Co purchased a new position in shares of HP in the 3rd quarter worth about $237,000. Te Ahumairangi Investment Management Ltd lifted its stake in shares of HP by 3.4% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 161,418 shares of the computer maker's stock valued at $5,757,000 after purchasing an additional 5,360 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of HP by 53.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 44,705 shares of the computer maker's stock worth $1,604,000 after purchasing an additional 15,571 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Bank of America lowered shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price target on the stock. in a report on Friday, September 27th. Hsbc Global Res downgraded shares of HP from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 29th. Barclays upped their price target on shares of HP from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. Citigroup cut their price objective on HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. 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 report on Thursday, August 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $36.45.
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HP Price Performance
HPQ traded up $0.43 on Thursday, reaching $34.98. The company's stock had a trading volume of 5,056,205 shares, compared to its average volume of 7,846,775. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The business's 50 day moving average is $36.63 and its 200 day moving average is $35.81. The stock has a market cap of $33.71 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 3.09 and a beta of 1.04.
HP (NYSE:HPQ - Get Free Report) last released its earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $14.06 billion during the quarter, compared to analysts' expectations of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business's revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. As a group, research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.
HP Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.2894 per share. This is a boost from HP's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.31%. HP's dividend payout ratio (DPR) is presently 40.93%.
HP declared that its board has initiated a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling
In related news, CEO Enrique Lores sold 137,094 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the sale, the chief executive officer now owns 89,272 shares of the company's stock, valued at $3,253,964.40. This represents a 60.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alex Cho sold 40,287 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,250,724.80. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 187,679 shares of company stock worth $6,752,491. Corporate insiders own 0.41% of the company's stock.
HP Company Profile
(
Free Report)
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.
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