TD Private Client Wealth LLC Grows Stock Position in HP Inc. (NYSE:HPQ)

TD Private Client Wealth LLC grew its position in HP Inc. (NYSE:HPQ - Free Report) by 53.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,705 shares of the computer maker's stock after acquiring an additional 15,571 shares during the quarter. TD Private Client Wealth LLC's holdings in HP were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in HP in the third quarter worth about $25,000. Triad Wealth Partners LLC purchased a new position in shares of HP in the 2nd quarter worth approximately $33,000. Wolff Wiese Magana LLC increased its position in shares of HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker's stock valued at $35,000 after purchasing an additional 518 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in HP during the 3rd quarter valued at $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in HP during the third quarter worth $40,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays raised their target price on shares of HP from $32.00 to $35.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Loop Capital dropped their target price on 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 increased their price target on 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 HP from $37.00 to $36.50 and set a "neutral" rating for the company in a report on Wednesday, November 27th. Finally, HSBC lowered HP from a "buy" rating to a "hold" rating and reduced their target price for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, HP currently has an average rating of "Hold" and a consensus target price of $36.45.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 137,094 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the sale, the chief executive officer now owns 89,272 shares of the company's stock, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alex Cho sold 10,298 shares of the 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 directly 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. Over the last ninety days, insiders sold 187,679 shares of company stock valued at $6,752,491. 0.41% of the stock is currently owned by insiders.

HP Stock Performance

HP stock traded down $0.43 during midday trading on Friday, hitting $34.55. 5,101,524 shares of the company's stock were exchanged, compared to its average volume of 7,835,384. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The company has a market cap of $33.30 billion, a PE ratio of 12.45, a P/E/G ratio of 2.95 and a beta of 1.04. The firm has a 50-day moving average of $36.62 and a two-hundred day moving average of $35.80.

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. The company had revenue of $14.06 billion for the quarter, compared to analyst estimates 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 period last year, the company posted $0.90 earnings per share. As a group, equities analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

The company also recently announced 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 is an increase 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 currently 41.28%.

HP declared that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

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.