CreativeOne Wealth LLC Acquires 965 Shares of HP Inc. (NYSE:HPQ)

CreativeOne Wealth LLC grew its holdings in HP Inc. (NYSE:HPQ) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,816 shares of the computer maker’s stock after acquiring an additional 965 shares during the quarter. CreativeOne Wealth LLC’s holdings in HP were worth $854,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Chris Bulman Inc bought a new stake in shares of HP in the second quarter worth $88,000. Principal Financial Group Inc. grew its stake in HP by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after buying an additional 160,268 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in HP in the 2nd quarter valued at $621,000. Cetera Investment Advisers raised its position in shares of HP by 154.7% in the first quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker’s stock valued at $3,309,000 after buying an additional 66,510 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in HP by 11.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 193,700 shares of the computer maker’s stock valued at $6,947,000 after acquiring an additional 19,845 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. This represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $38.00 in a research note on Friday. 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 research report on Friday, September 27th. UBS Group raised their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley lowered their price target on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. reduced their price objective on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, HP presently has a consensus rating of “Hold” and an average price target of $36.77.

HP Price Performance

HPQ opened at $35.43 on Friday. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The company’s 50 day moving average price is $36.57 and its two-hundred day moving average price is $35.59. The firm has a market capitalization of $34.14 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 2.40 and a beta of 1.07.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. HP’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, equities research analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

HP Increases Dividend

The business 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 $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.27%. HP’s dividend payout ratio is presently 40.93%.

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.