HP Inc. (NYSE:HPQ) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 406,851 shares of the computer maker's stock after selling 37,196 shares during the quarter. National Bank of Canada FI's holdings in HP were worth $14,594,000 as of its most recent SEC filing.

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 HP in the third quarter worth about $25,000. Triad Wealth Partners LLC acquired a new stake in HP in the 2nd quarter worth approximately $33,000. Wolff Wiese Magana LLC grew its position in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker's stock worth $35,000 after purchasing an additional 518 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in HP during the 3rd quarter valued at approximately $37,000. Finally, Itau Unibanco Holding S.A. acquired a new position in HP during the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 211,501 shares of HP 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 completion of the sale, the chief executive officer now directly owns 3 shares of the company's stock, valued at approximately $99.48. The trade was a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alex Cho sold 10,298 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 64,676 shares of the company's stock, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 399,180 shares of company stock worth $13,765,864. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HPQ. Loop Capital dropped their price objective on shares of HP from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, September 5th. Barclays boosted their price target on HP from $32.00 to $35.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 27th. Citigroup cut their price objective on HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. decreased their target price on HP from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. Finally, Bank of America downgraded shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price target on the stock. in a report on Friday, September 27th. One 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. According to data from MarketBeat, HP presently has an average rating of "Hold" and an average price target of $36.77.

HP Stock Down 0.3 %

Shares of HPQ stock traded down $0.11 during mid-day trading on Wednesday, hitting $34.54. 8,183,378 shares of the stock were exchanged, compared to its average volume of 7,858,085. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The firm has a fifty day moving average of $36.64 and a 200 day moving average of $35.82. The company has a market cap of $33.29 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 3.09 and a beta of 1.04.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter in the prior year, the business posted $0.90 earnings per share. HP's revenue for the quarter was up 1.7% on a year-over-year basis. Equities analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP announced that its board has initiated a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

HP Increases Dividend

The business also recently announced 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 represents a $1.16 dividend on an annualized basis and a yield of 3.35%. This is a boost from HP's previous quarterly dividend of $0.28. HP's dividend payout ratio is presently 40.93%.

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.