Quadrature Capital Ltd Cuts Holdings in HP Inc. (NYSE:HPQ)

Quadrature Capital Ltd lessened its position in HP Inc. (NYSE:HPQ - Free Report) by 35.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,968 shares of the computer maker's stock after selling 53,194 shares during the quarter. Quadrature Capital Ltd's holdings in HP were worth $3,407,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of HP in the 3rd quarter valued at $25,000. Triad Wealth Partners LLC acquired a new position in HP during the 2nd quarter worth $33,000. Wolff Wiese Magana LLC grew its stake 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 in the last quarter. ORG Wealth Partners LLC acquired a new position in HP during the 3rd quarter worth $37,000. Finally, Itau Unibanco Holding S.A. acquired a new position in HP during the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Stock Performance

Shares of NYSE:HPQ traded up $0.02 on Friday, hitting $36.19. 6,583,471 shares of the company's stock were exchanged, compared to its average volume of 7,862,606. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The company has a market capitalization of $34.88 billion, a PE ratio of 12.88, a P/E/G ratio of 3.14 and a beta of 1.04. The firm's 50-day moving average is $36.61 and its 200 day moving average is $35.70.

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

HP Increases Dividend

The company also recently announced 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. This is an increase from HP's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Wednesday, December 11th. HP's payout ratio is presently 40.93%.

HP announced that its board has approved a stock 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 purchase up to 28.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup lowered their target price on HP from $37.00 to $36.50 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Morgan Stanley lowered their target price on HP from $37.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, August 29th. TD Cowen boosted their target price on HP from $32.00 to $39.00 and gave the stock a "hold" rating in a research note on Wednesday, November 27th. Loop Capital lowered their target price on HP from $37.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, September 5th. Finally, UBS Group upped their price objective on HP from $34.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. One equities research 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 has a consensus rating of "Hold" and an average target price of $36.77.

Insider Activity

In other HP news, insider Alex Cho sold 10,298 shares of the company'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 transaction of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares of the company's stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Enrique Lores sold 211,501 shares of the company'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 sale, the chief executive officer now directly owns 3 shares of the company's stock, valued at approximately $99.48. This represents a 100.00 % decrease in their ownership of the stock. 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.