Sanctuary Advisors LLC Boosts Stake in HP Inc. (NYSE:HPQ)

Sanctuary Advisors LLC increased its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 66.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,094 shares of the computer maker's stock after purchasing an additional 63,787 shares during the quarter. Sanctuary Advisors LLC's holdings in HP were worth $6,104,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Pine Valley Investments Ltd Liability Co acquired a new position in HP during the 3rd quarter valued at approximately $237,000. Te Ahumairangi Investment Management Ltd grew its holdings in shares of HP by 3.4% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 161,418 shares of the computer maker's stock valued at $5,757,000 after buying an additional 5,360 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of HP by 53.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 44,705 shares of the computer maker's stock valued at $1,604,000 after acquiring an additional 15,571 shares during the period. Toronto Dominion Bank raised its stake in HP by 9.5% in the 3rd quarter. Toronto Dominion Bank now owns 517,684 shares of the computer maker's stock worth $18,569,000 after acquiring an additional 44,698 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in HP during the 3rd quarter worth about $2,164,000. Institutional investors own 77.53% of the company's stock.

HP Stock Performance

HP stock traded down $0.43 during trading on Friday, reaching $34.55. The company had a trading volume of 5,101,544 shares, compared to its average volume of 7,835,384. The firm has a market capitalization of $33.30 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The firm's 50-day simple moving average is $36.59 and its 200 day simple moving average is $35.83. 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 released its earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting analysts' consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $14.06 billion during the quarter, compared to analysts' expectations of $13.99 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. The company's quarterly revenue was up 1.7% on a year-over-year basis. Analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a dividend of $0.2894 per share. The ex-dividend date is Wednesday, December 11th. This is a positive change from HP's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 3.35%. HP's payout ratio is presently 40.93%.

HP declared that its Board of Directors has authorized a stock 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 reacquire up to 28.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of HP from $42.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. Loop Capital cut their price target on HP from $37.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, September 5th. Hsbc Global Res cut HP from a "strong-buy" rating to a "hold" rating in a report on Friday, November 29th. HSBC lowered HP from a "buy" rating to a "hold" rating and dropped their target price for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Bank of America downgraded HP from a "buy" rating to a "neutral" rating and set a $37.00 price target for the company. in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $36.45.

Insider Activity at HP

In related news, 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 transaction of $4,997,076.30. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alex Cho sold 10,298 shares of the business's stock in a transaction dated 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 in the company, 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. In the last quarter, insiders sold 187,679 shares of company stock valued at $6,752,491. Corporate 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.