182,798 Shares in HP Inc. (NYSE:HPQ) Acquired by Greystone Financial Group LLC

Greystone Financial Group LLC purchased a new stake in HP Inc. (NYSE:HPQ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 182,798 shares of the computer maker’s stock, valued at approximately $6,402,000.

Several other institutional investors have also modified their holdings of the business. Norges Bank purchased a new position in HP in the fourth quarter valued at $187,264,000. Vanguard Group Inc. grew its position in shares of HP by 2.6% during the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after buying an additional 3,062,441 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of HP by 1,472.4% during the fourth quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock worth $68,126,000 after buying an additional 2,120,096 shares during the period. Wedge Capital Management L L P NC purchased a new position in HP in the second quarter worth approximately $62,672,000. Finally, DAVENPORT & Co LLC increased its position in shares of HP by 10,188.2% in the 1st quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock valued at $53,680,000 after purchasing an additional 1,760,631 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity

In related news, insider Alex Cho sold 173,137 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the sale, the insider now directly owns 64,676 shares in the company, valued at approximately $2,335,450.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HPQ. Citigroup lifted their price objective on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Barclays lowered their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. UBS Group raised their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Bank of America increased their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company boosted their price objective on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.55.

HP Trading Down 1.7 %

Shares of NYSE:HPQ traded down $0.58 on Friday, reaching $33.82. 7,995,956 shares of the company were exchanged, compared to its average volume of 7,880,553. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52. The company has a 50-day moving average of $35.43 and a 200-day moving average of $32.65. The firm has a market cap of $33.09 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 2.32 and a beta of 1.07.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $0.86 earnings per share. As a group, analysts forecast that HP Inc. will post 3.4 earnings per share for the current year.

HP declared that its board has authorized a share buyback program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be given a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio is currently 37.16%.

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.