iA Global Asset Management Inc. Has $1.78 Million Stock Position in HP Inc. (NYSE:HPQ)

iA Global Asset Management Inc. grew its holdings in HP Inc. (NYSE:HPQ - Free Report) by 488.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,539 shares of the computer maker's stock after acquiring an additional 41,127 shares during the period. iA Global Asset Management Inc.'s holdings in HP were worth $1,777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. EP Wealth Advisors LLC grew its stake in shares of HP by 21.3% during the third quarter. EP Wealth Advisors LLC now owns 33,781 shares of the computer maker's stock worth $1,212,000 after purchasing an additional 5,937 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in HP by 14.5% in the third quarter. Kovitz Investment Group Partners LLC now owns 110,917 shares of the computer maker's stock valued at $3,979,000 after acquiring an additional 14,063 shares during the last quarter. Wellington Management Group LLP lifted its position in HP by 5.8% in the third quarter. Wellington Management Group LLP now owns 230,347 shares of the computer maker's stock valued at $8,263,000 after acquiring an additional 12,531 shares during the last quarter. Wahed Invest LLC lifted its position in HP by 11.4% in the third quarter. Wahed Invest LLC now owns 23,748 shares of the computer maker's stock valued at $852,000 after acquiring an additional 2,423 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in HP in the third quarter valued at $502,000. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Price Performance

NYSE:HPQ traded up $0.25 during trading hours on Monday, reaching $36.46. 6,308,224 shares of the company were exchanged, compared to its average volume of 7,856,047. The stock has a 50 day simple moving average of $36.64 and a 200 day simple moving average of $35.80. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The firm has a market cap of $35.13 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 3.09 and a beta of 1.04.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting analysts' consensus estimates of $0.93. The business had revenue of $14.06 billion for 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 business's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS. On average, analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Increases Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, December 11th. This is a positive change from HP's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.18%. HP's payout ratio is 39.15%.

HP declared that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HPQ shares. JPMorgan Chase & Co. reduced their target price on shares of HP from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, August 29th. HSBC downgraded shares of HP from a "buy" rating to a "hold" rating and reduced their price objective for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Hsbc Global Res downgraded shares of HP from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 29th. Finally, TD Cowen upped their price objective on shares of HP from $32.00 to $39.00 and gave the company a "hold" rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $36.77.

Insider Activity

In other HP news, CEO Enrique Lores sold 211,501 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $99.48. The trade was a 100.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. This represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Company 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.