Captrust Financial Advisors Reduces Stake in HP Inc. (NYSE:HPQ)

Captrust Financial Advisors lowered its stake in shares of HP Inc. (NYSE:HPQ) by 1.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,874,150 shares of the computer maker’s stock after selling 23,556 shares during the quarter. Captrust Financial Advisors’ holdings in HP were worth $67,226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of HPQ. Public Sector Pension Investment Board grew its holdings in HP by 136.8% during the third quarter. Public Sector Pension Investment Board now owns 42,578 shares of the computer maker’s stock valued at $1,527,000 after purchasing an additional 24,600 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 acquiring an additional 612,675 shares during the period. Fiduciary Trust Co increased its holdings in HP by 3.8% in the 3rd quarter. Fiduciary Trust Co now owns 47,291 shares of the computer maker’s stock worth $1,696,000 after acquiring an additional 1,750 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in HP by 70.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,211,779 shares of the computer maker’s stock worth $43,467,000 after acquiring an additional 502,890 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in HP during the third quarter valued at about $240,000. Institutional investors own 77.53% of the company’s stock.

HP Stock Down 11.4 %

NYSE:HPQ opened at $34.66 on Friday. The business’s 50-day moving average price is $36.56 and its two-hundred day moving average price is $35.52. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The stock has a market cap of $33.40 billion, a P/E ratio of 12.33, a PEG ratio of 2.40 and a beta of 1.07.

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

HP declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This is an increase from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.34%. HP’s dividend payout ratio (DPR) is 39.15%.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction 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 Analysts Forecast Growth

HPQ has been the topic of several research reports. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Friday, September 27th. UBS Group boosted their target price on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Barclays raised their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday. Loop Capital decreased their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, HSBC downgraded HP from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $38.00 in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $36.77.

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.