Tidal Investments LLC Purchases 47,230 Shares of HP Inc. (NYSE:HPQ)

Tidal Investments LLC raised its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 47.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,608 shares of the computer maker's stock after purchasing an additional 47,230 shares during the period. Tidal Investments LLC's holdings in HP were worth $5,259,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. LVW Advisors LLC grew its stake in HP by 1.2% in the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker's stock valued at $857,000 after buying an additional 278 shares during the last quarter. Castleview Partners LLC grew its position in shares of HP by 8.1% in the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker's stock valued at $138,000 after purchasing an additional 289 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of HP by 5.9% in the third quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker's stock worth $191,000 after purchasing an additional 297 shares during the period. King Luther Capital Management Corp lifted its position in shares of HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker's stock worth $346,000 after purchasing an additional 303 shares during the last quarter. Finally, Arvest Investments Inc. boosted its stake in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker's stock valued at $1,232,000 after purchasing an additional 310 shares during the period. Institutional investors own 77.53% of the company's stock.

Insider Buying and Selling at HP

In related news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now directly owns 89,272 shares of the company's stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alex Cho sold 40,287 shares of the company'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 transaction, the insider now owns 64,676 shares in the company, valued at approximately $2,250,724.80. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,679 shares of company stock worth $6,752,491 over the last ninety days. Corporate insiders own 0.41% of the company's stock.

HP Stock Performance

Shares of HPQ stock traded down $0.43 during trading hours on Friday, hitting $34.55. The company had a trading volume of 5,101,544 shares, compared to its average volume of 7,835,384. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The firm's fifty day moving average is $36.59 and its 200 day moving average is $35.81. The firm has a market capitalization of $33.30 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 2.95 and a beta of 1.04.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting analysts' consensus estimates of $0.93. The firm had revenue of $14.06 billion for 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 earnings per share. On average, sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

HP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be given a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This is a positive change from HP's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 3.35%. HP's payout ratio is 41.28%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HPQ. Hsbc Global Res lowered HP from a "strong-buy" rating to a "hold" rating in a report on Friday, November 29th. Loop Capital reduced their price target on shares of HP from $37.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, September 5th. HSBC lowered shares of HP from a "buy" rating to a "hold" rating and decreased their price target for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Morgan Stanley reduced their target price on shares of HP from $37.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, August 29th. Finally, Citigroup decreased their target price on HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, HP has a consensus rating of "Hold" and a consensus price target of $36.45.

HP Company 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.