Chevy Chase Trust Holdings LLC Buys 53,341 Shares of HP Inc. (NYSE:HPQ)

Chevy Chase Trust Holdings LLC boosted its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 11.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 526,662 shares of the computer maker's stock after acquiring an additional 53,341 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of HP worth $18,891,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Chris Bulman Inc purchased a new position in HP during the 2nd quarter worth $88,000. Principal Financial Group Inc. increased its holdings in shares of HP by 16.1% in the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker's stock valued at $41,391,000 after purchasing an additional 160,268 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of HP during the second quarter worth $621,000. Cetera Investment Advisers raised its stake in shares of HP by 154.7% in the first quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker's stock valued at $3,309,000 after acquiring an additional 66,510 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of HP by 11.4% during the third quarter. State of Alaska Department of Revenue now owns 193,700 shares of the computer maker's stock worth $6,947,000 after purchasing an additional 19,845 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Stock Down 1.2 %

HPQ stock traded down $0.43 during midday trading on Wednesday, reaching $36.36. 8,735,723 shares of the company's stock traded hands, compared to its average volume of 7,866,410. The company has a market cap of $35.04 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 3.11 and a beta of 1.04. The firm's fifty day moving average price is $36.63 and its 200-day moving average price is $35.70. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts' consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. During the same period in the previous year, the firm earned $0.90 EPS. The firm's quarterly revenue was up 1.7% on a year-over-year basis. Analysts forecast that HP Inc. will post 3.56 earnings per share 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 issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.18%. This is a positive change from HP's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, December 11th. HP's payout ratio is presently 39.15%.

HP announced that its board has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Barclays lifted their price objective on HP from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. decreased their price target on shares of HP from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. Loop Capital dropped their price objective on HP from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, September 5th. UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. Finally, Citigroup cut their target price on shares of HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, HP currently has a consensus rating of "Hold" and an average price target of $36.77.

Insider Activity

In other HP news, insider Alex Cho sold 10,298 shares of the business's stock in a transaction 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 directly owns 64,676 shares in the company, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Enrique Lores sold 211,501 shares of the business's stock in a transaction 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 owns 3 shares of the company's stock, valued at approximately $99.48. This represents a 100.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company's stock.

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.