HP Inc. (NYSE:HPQ) Shares Sold by SageView Advisory Group LLC

SageView Advisory Group LLC lessened its holdings in HP Inc. (NYSE:HPQ) by 24.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,494 shares of the computer maker’s stock after selling 2,726 shares during the quarter. SageView Advisory Group LLC’s holdings in HP were worth $305,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Primecap Management Co. CA raised its stake in HP by 6.2% in the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after acquiring an additional 1,319,731 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after purchasing an additional 1,455,138 shares during the period. Legal & General Group Plc boosted its position in HP by 11.3% in the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after buying an additional 1,089,848 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in HP by 7.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock worth $307,816,000 after buying an additional 612,675 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in HP by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock valued at $294,253,000 after acquiring an additional 287,861 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. HSBC cut shares of HP from a “buy” rating to a “hold” rating and cut their price objective for the company from $39.00 to $38.00 in a report on Friday, November 29th. JPMorgan Chase & Co. decreased their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Loop Capital lowered their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Citigroup reduced their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, UBS Group increased their price objective on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $36.77.

Insider Buying and Selling

In related news, insider Alex Cho sold 10,298 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Up 0.1 %

HPQ stock opened at $36.20 on Friday. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The stock has a market cap of $34.89 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 3.10 and a beta of 1.04. The business has a fifty day moving average of $36.63 and a two-hundred day moving average of $35.75.

HP (NYSE:HPQ) 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 firm had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same period last year, the company earned $0.90 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts anticipate 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. Stockholders of record on Wednesday, December 11th will be issued a $0.2894 dividend. This is a positive change from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Wednesday, December 11th. HP’s dividend payout ratio is currently 39.15%.

HP announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership 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.