13,995 Shares in HP Inc. (NYSE:HPQ) Purchased by Weiss Asset Management LP

Weiss Asset Management LP acquired a new stake in shares of HP Inc. (NYSE:HPQ - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,995 shares of the computer maker's stock, valued at approximately $502,000.

Other large investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its stake in shares of HP by 22.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 22,581 shares of the computer maker's stock worth $791,000 after purchasing an additional 4,143 shares in the last quarter. Wedmont Private Capital lifted its stake in HP by 21.9% in the second quarter. Wedmont Private Capital now owns 11,285 shares of the computer maker's stock valued at $415,000 after acquiring an additional 2,028 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in HP by 4.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 196,208 shares of the computer maker's stock valued at $6,871,000 after acquiring an additional 7,858 shares during the last quarter. ORG Partners LLC grew its position in HP by 241.0% in 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 in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of HP by 5.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 96,571 shares of the computer maker's stock valued at $3,382,000 after purchasing an additional 5,114 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Trading Down 4.1 %

HPQ stock traded down $1.51 during trading on Tuesday, reaching $34.94. 7,975,475 shares of the stock were exchanged, compared to its average volume of 7,856,550. The stock has a 50 day simple moving average of $36.64 and a 200-day simple moving average of $35.80. The company has a market capitalization of $33.67 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 3.09 and a beta of 1.04. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79.

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

HP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.31%. This is an increase from HP's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. HP's payout ratio is presently 39.15%.

HP declared that its Board of Directors has initiated a share buyback 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 stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective 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. Citigroup decreased their price target on HP from $37.00 to $36.50 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. 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 report on Friday, November 29th. UBS Group lifted their price target on shares of HP from $34.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, August 29th. Finally, Hsbc Global Res downgraded shares of HP from a "strong-buy" rating to a "hold" rating in a report on Friday, November 29th. 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 stock. Based on data from MarketBeat, HP presently has a consensus rating of "Hold" and a consensus target price of $36.77.

Insider Transactions at HP

In related news, insider Alex Cho sold 10,298 shares of the 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 $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 HP stock in a transaction 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. The trade was a 100.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

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.