Neo Ivy Capital Management Takes Position in HP Inc. (NYSE:HPQ)

Neo Ivy Capital Management acquired a new position in HP Inc. (NYSE:HPQ - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,310 shares of the computer maker's stock, valued at approximately $2,164,000.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in HP during the third quarter valued at about $25,000. Triad Wealth Partners LLC bought a new stake in shares of HP in the second quarter valued at about $33,000. Wolff Wiese Magana LLC lifted its stake in shares of HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker's stock valued at $35,000 after buying an additional 518 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of HP in the third quarter valued at about $37,000. Finally, Itau Unibanco Holding S.A. acquired a new position in HP in the third quarter worth about $40,000. 77.53% of the stock is currently owned by institutional investors.

HP Trading Down 0.6 %

Shares of HP stock traded down $0.22 during trading on Wednesday, hitting $34.43. 2,623,809 shares of the stock were exchanged, compared to its average volume of 7,834,344. The stock has a market capitalization of $33.18 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 3.09 and a beta of 1.04. The company has a fifty day moving average price of $36.64 and a 200-day moving average price of $35.82. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The business 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%. HP's revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 EPS. Equities research analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP declared that its board has initiated a share buyback program 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 programs are often an indication that the company's board of directors believes its shares are undervalued.

HP Increases Dividend

The firm 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 $0.2894 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a yield of 3.36%. This is an increase from HP's previous quarterly dividend of $0.28. HP's payout ratio is currently 40.93%.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the business's stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alex Cho sold 10,298 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 64,676 shares of the company's stock, valued at $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 358,893 shares of company stock valued at $12,363,877 in the last quarter. Company insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

HPQ has been the subject of several recent research reports. Loop Capital dropped their price target on shares of HP from $37.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, September 5th. TD Cowen raised their price objective on shares of HP from $32.00 to $39.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. Citigroup dropped their price objective on shares of HP from $37.00 to $36.50 and set a "neutral" rating for the company in a report on Wednesday, November 27th. Hsbc Global Res cut shares of HP from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 29th. Finally, Bank of America cut shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price target on the stock. in a research note 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 stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $36.77.

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.