Fmr LLC Has $87.70 Million Stock Position in HP Inc. (NYSE:HPQ)

FMR LLC lessened its holdings in HP Inc. (NYSE:HPQ - Free Report) by 40.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,444,900 shares of the computer maker's stock after selling 1,636,034 shares during the period. FMR LLC owned about 0.25% of HP worth $87,699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of HP in the third quarter valued at about $25,000. Triad Wealth Partners LLC acquired a new stake in shares of HP during the second quarter valued at about $33,000. Wolff Wiese Magana LLC increased its position in shares of HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker's stock valued at $35,000 after acquiring an additional 518 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of HP in the third quarter valued at approximately $37,000. Finally, DecisionPoint Financial LLC acquired a new position in shares of HP in the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of HP from $32.00 to $35.00 and gave the company 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 note on Wednesday, November 20th. Hsbc Global Res cut shares of HP from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 29th. HSBC cut shares of HP from a "buy" rating to a "hold" rating and reduced their target price for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $36.77.

HP Stock Up 0.1 %

Shares of HPQ traded up $0.02 during mid-day trading on Friday, reaching $36.19. 6,583,471 shares of the stock traded hands, compared to its average volume of 7,862,606. The stock has a fifty day simple moving average of $36.61 and a 200 day simple moving average of $35.70. The firm has a market cap of $34.88 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 3.14 and a beta of 1.04. 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 announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. On average, equities research analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.20%. The ex-dividend date is Wednesday, December 11th. This is an increase from HP's previous quarterly dividend of $0.28. HP's payout ratio is presently 40.93%.

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

Insider Activity

In other news, insider Alex Cho sold 10,298 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value 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. This trade represents a 13.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Enrique Lores sold 211,501 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the completion of the sale, the chief executive officer now owns 3 shares of the company's stock, valued at approximately $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

HP 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.