HP Inc. (NYSE:HPQ) Shares Purchased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC boosted its stake in HP Inc. (NYSE:HPQ) by 11.3% in the 3rd quarter, Holdings Channel reports. The firm owned 526,662 shares of the computer maker’s stock after purchasing an additional 53,341 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in HP were worth $18,891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LVW Advisors LLC grew its stake in shares of HP by 1.2% in the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after buying an additional 278 shares in the last quarter. Castleview Partners LLC boosted its holdings in HP by 8.1% during the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after acquiring an additional 289 shares during the period. Versant Capital Management Inc grew its position in HP by 5.9% in the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock valued at $191,000 after acquiring an additional 297 shares in the last quarter. King Luther Capital Management Corp increased its stake in HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after purchasing an additional 303 shares during the period. Finally, Arvest Investments Inc. lifted its position in shares of HP by 0.9% during the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

HP Trading Up 0.9 %

HPQ stock opened at $36.79 on Wednesday. The stock has a market cap of $35.46 billion, a P/E ratio of 13.09, a PEG ratio of 3.11 and a beta of 1.04. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The company’s 50 day moving average is $36.62 and its two-hundred day moving average is $35.70.

HP (NYSE:HPQ) last announced its quarterly 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 net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period last year, the business earned $0.90 EPS. HP’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP announced that its board has approved a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

HP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Wednesday, December 11th. This is an increase from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio (DPR) is currently 39.15%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. TD Cowen boosted their price target on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Morgan Stanley cut their price objective on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. HSBC cut HP from a “buy” rating to a “hold” rating and lowered their target price for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, Loop Capital reduced their price target on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.77.

HP Company 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.