Orion Portfolio Solutions LLC Sells 21,416 Shares of HP Inc. (NYSE:HPQ)

Orion Portfolio Solutions LLC reduced its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 52.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,315 shares of the computer maker's stock after selling 21,416 shares during the period. Orion Portfolio Solutions LLC's holdings in HP were worth $693,000 at the end of the most recent quarter.

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

HP Price Performance

NYSE:HPQ traded down $0.36 during trading hours on Tuesday, reaching $33.83. 8,286,649 shares of the company were exchanged, compared to its average volume of 7,838,668. 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 $32.60 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 2.95 and a beta of 1.04. The stock has a 50 day simple moving average of $36.51 and a 200 day simple moving average of $35.81.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter last year, the company earned $0.90 earnings per share. HP's revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Increases Dividend

The business also recently declared 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 of this dividend is Wednesday, December 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.42%. This is a boost from HP's previous quarterly dividend of $0.28. HP's dividend payout ratio is currently 40.93%.

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

Analyst Ratings Changes

Several equities analysts recently commented on HPQ shares. UBS Group boosted their price objective on shares of HP from $34.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, August 29th. Hsbc Global Res lowered shares of HP from a "strong-buy" rating to a "hold" rating in a report on Friday, November 29th. Barclays raised their target price on HP from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. Bank of America lowered HP from a "buy" rating to a "neutral" rating and set a $37.00 price target for the company. in a research report on Friday, September 27th. Finally, Morgan Stanley decreased their target price on HP from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, HP currently has a consensus rating of "Hold" and a consensus price target of $36.45.

Insider Activity

In related news, insider Alex Cho sold 10,298 shares of HP stock in a transaction on Friday, November 29th. The shares were 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Enrique Lores sold 137,094 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the transaction, the chief executive officer now owns 89,272 shares in the company, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 262,035 shares of company stock worth $9,312,568 in the last 90 days. Company insiders own 0.41% of the company's stock.

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.