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

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

Several other institutional investors have also recently made changes to their positions in HPQ. Primecap Management Co. CA increased its position 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 valued at $786,237,000 after buying an additional 1,319,731 shares in the last quarter. Pacer Advisors Inc. increased 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 valued at $508,791,000 after acquiring an additional 1,455,138 shares in the last quarter. Legal & General Group Plc raised its position in shares of HP by 11.3% during the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock worth $375,079,000 after purchasing an additional 1,089,848 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of HP by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock worth $294,253,000 after purchasing an additional 287,861 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in HP by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker’s stock valued at $241,876,000 after purchasing an additional 678,985 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on HPQ shares. Citigroup lowered their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday. HSBC downgraded HP from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $38.00 in a research note on Friday. Loop Capital lowered their price objective on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. cut 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. Finally, TD Cowen increased their price target on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HP presently has a consensus rating of “Hold” and a consensus target price of $36.77.

HP Stock Performance

Shares of NYSE:HPQ opened at $35.43 on Friday. The company has a market capitalization of $34.14 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 2.40 and a beta of 1.07. The company’s 50-day moving average is $36.57 and its 200 day moving average is $35.59. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79.

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

HP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, December 11th. This is a boost from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio is currently 40.93%.

HP announced that its Board of Directors has approved a share buyback 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 purchase up to 28.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the sale, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. The trade was a 100.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by corporate insiders.

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.