HP Inc. (NYSE:HPQ) Stock Position Raised by Toronto Dominion Bank

Toronto Dominion Bank increased its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 9.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 517,684 shares of the computer maker's stock after acquiring an additional 44,698 shares during the period. Toronto Dominion Bank owned approximately 0.05% of HP worth $18,569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HPQ. Wealth Enhancement Advisory Services LLC grew its holdings in HP by 4.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 196,208 shares of the computer maker's stock valued at $6,871,000 after purchasing an additional 7,858 shares in the last quarter. ORG Partners LLC increased its position in shares of HP by 241.0% during the second quarter. ORG Partners LLC now owns 1,913 shares of the computer maker's stock worth $67,000 after acquiring an additional 1,352 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of HP by 5.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 96,571 shares of the computer maker's stock worth $3,382,000 after acquiring an additional 5,114 shares in the last quarter. Fiduciary Financial Group LLC purchased a new position in HP in the second quarter valued at about $275,000. Finally, Triad Wealth Partners LLC acquired a new stake in HP during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

Insiders Place Their Bets

In other news, insider Alex Cho sold 40,287 shares of HP stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total value of $1,401,987.60. Following the transaction, the insider now owns 64,676 shares of the company's stock, valued at $2,250,724.80. The trade was a 38.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Enrique Lores sold 137,094 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 89,272 shares of the company's stock, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 187,679 shares of company stock worth $6,752,491 over the last ninety days. Company insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HPQ. Citigroup cut their target price on HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. Loop Capital lowered their price objective on HP from $37.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, September 5th. UBS Group boosted their price target on HP from $34.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, August 29th. Bank of America downgraded shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price objective for the company. in a report on Friday, September 27th. Finally, Hsbc Global Res cut shares of HP from a "strong-buy" rating to a "hold" rating in a report on Friday, November 29th. One equities 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's stock. Based on data from MarketBeat.com, HP has a consensus rating of "Hold" and a consensus target price of $36.45.

HP Stock Down 1.2 %

NYSE HPQ traded down $0.43 on Friday, hitting $34.55. The stock had a trading volume of 5,101,524 shares, compared to its average volume of 7,835,384. The company's 50-day moving average is $36.62 and its two-hundred day moving average is $35.80. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The stock has a market cap of $33.30 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 2.95 and a beta of 1.04.

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, 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 analyst estimates of $13.99 billion. During the same period in the prior year, the company posted $0.90 EPS. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

HP Increases Dividend

The company 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 dividend of $0.2894 per share. This is a boost from HP's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. This represents a $1.16 annualized dividend and a yield of 3.35%. HP's payout ratio is presently 41.28%.

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.