Sanctuary Advisors LLC Boosts Holdings in HP Inc. (NYSE:HPQ)

Sanctuary Advisors LLC increased its stake in HP Inc. (NYSE:HPQ) by 66.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 160,094 shares of the computer maker’s stock after acquiring an additional 63,787 shares during the period. Sanctuary Advisors LLC’s holdings in HP were worth $6,104,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of HP during the 3rd quarter valued at $237,000. Te Ahumairangi Investment Management Ltd grew its position in HP by 3.4% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 161,418 shares of the computer maker’s stock valued at $5,757,000 after acquiring an additional 5,360 shares during the period. TD Private Client Wealth LLC increased its stake in HP by 53.4% during the third quarter. TD Private Client Wealth LLC now owns 44,705 shares of the computer maker’s stock worth $1,604,000 after acquiring an additional 15,571 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of HP by 9.5% in the 3rd quarter. Toronto Dominion Bank now owns 517,684 shares of the computer maker’s stock worth $18,569,000 after purchasing an additional 44,698 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in shares of HP in the 3rd quarter valued at about $2,164,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the sale, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 187,679 shares of company stock worth $6,752,491 over the last ninety days. 0.41% of the stock is owned by insiders.

HP Price Performance

HPQ opened at $34.55 on Friday. The stock has a market capitalization of $33.30 billion, a PE ratio of 12.30, a P/E/G ratio of 2.95 and a beta of 1.04. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The firm’s fifty day moving average price is $36.59 and its 200 day moving average price is $35.83.

HP (NYSE:HPQ) last issued 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. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. On average, equities research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP declared that its Board of Directors has approved a share 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 repurchase up to 28.9% of its stock through open market purchases. Stock buyback programs are generally an indication 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 given a dividend of $0.2894 per share. 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 3.35%. The ex-dividend date of this dividend is Wednesday, December 11th. HP’s dividend payout ratio is currently 40.93%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HPQ. Morgan Stanley cut their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Barclays lifted their target price on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. TD Cowen increased their price target on HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. UBS Group boosted their price objective on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, HSBC lowered HP from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $38.00 in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.45.

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.