Quantinno Capital Management LP Raises Stake in HP Inc. (NYSE:HPQ)

Quantinno Capital Management LP lifted its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 49.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,197 shares of the computer maker's stock after buying an additional 46,541 shares during the quarter. Quantinno Capital Management LP's holdings in HP were worth $5,029,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in HP during the third quarter worth $25,000. Triad Wealth Partners LLC acquired a new position in shares of HP during the 2nd quarter worth about $33,000. Wolff Wiese Magana LLC lifted its stake in HP by 115.1% in the 3rd 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 in the last quarter. ORG Wealth Partners LLC acquired a new stake in HP in the 3rd quarter worth about $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in HP during the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the firm'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 owns 3 shares of the company's stock, valued at approximately $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider now directly owns 64,676 shares in the company, valued at approximately $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. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HPQ shares. HSBC downgraded HP from a "buy" rating to a "hold" rating and decreased their target price for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Citigroup lowered their target price on shares of HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a research note on Wednesday, November 27th. 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 research report on Wednesday, November 20th. Barclays upped their price objective on shares of HP from $32.00 to $35.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 27th. Finally, Loop Capital decreased their target price on shares of HP from $37.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $36.77.

HP Price Performance

HPQ traded up $0.03 during trading hours on Friday, reaching $36.20. The company's stock had a trading volume of 6,583,550 shares, compared to its average volume of 8,358,639. The business's 50-day moving average is $36.63 and its 200-day moving average is $35.75. The stock has a market cap of $34.89 billion, a PE ratio of 12.88, a P/E/G ratio of 3.10 and a beta of 1.04. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share 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 business had revenue of $14.06 billion during the quarter, compared to analysts' expectations of $13.99 billion. During the same period in the prior year, the business posted $0.90 EPS. The company's revenue was up 1.7% compared to the same quarter last year. Analysts expect that HP Inc. will post 3.56 EPS for the current year.

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

HP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, December 11th. This is an increase from HP's previous quarterly dividend of $0.28. HP's dividend payout ratio (DPR) is 39.15%.

HP Company 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.