D.A. Davidson & CO. Trims Stock Position in HP Inc. (NYSE:HPQ)

D.A. Davidson & CO. lowered its position in HP Inc. (NYSE:HPQ - Free Report) by 56.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,492 shares of the computer maker's stock after selling 14,799 shares during the period. D.A. Davidson & CO.'s holdings in HP were worth $412,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in HP in the 3rd quarter worth $25,000. Triad Wealth Partners LLC purchased a new stake in shares of HP during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP during the 2nd quarter valued at about $34,000. Wolff Wiese Magana LLC raised its position 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 valued at $35,000 after buying an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of HP during the 3rd quarter valued at about $37,000. Institutional investors own 77.53% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on HPQ shares. Morgan Stanley decreased their target price on shares of HP from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 29th. Hsbc Global Res cut shares of HP from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. Citigroup decreased their target price on shares of HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. HSBC lowered shares of HP from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of HP from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $36.77.

Insider Activity

In related news, insider Alex Cho sold 10,298 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the sale, the insider now owns 64,676 shares of the company's stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Enrique Lores sold 211,501 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.41% of the company's stock.

HP Price Performance

HPQ stock traded down $0.43 during mid-day trading on Wednesday, reaching $36.36. The company had a trading volume of 8,735,723 shares, compared to its average volume of 7,866,410. The company has a market capitalization of $35.04 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 3.11 and a beta of 1.04. The firm has a 50 day moving average of $36.63 and a 200 day moving average of $35.70. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79.

HP (NYSE:HPQ - Get Free Report) last released 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 firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. During the same period last year, the firm earned $0.90 earnings per share. The company's quarterly revenue was up 1.7% on a year-over-year basis. Analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be paid a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This is an increase from HP's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.18%. HP's dividend payout ratio (DPR) is currently 39.15%.

HP declared that its board has initiated a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.