Pine Valley Investments Ltd Liability Co Purchases New Position in HP Inc. (NYSE:HPQ)

Pine Valley Investments Ltd Liability Co acquired a new position in HP Inc. (NYSE:HPQ) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,567 shares of the computer maker’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new position in shares of HP during the 3rd quarter worth $25,000. Triad Wealth Partners LLC bought a new stake in HP in the second quarter worth $33,000. Wolff Wiese Magana LLC increased its position in HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after buying an additional 518 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of HP in the 3rd quarter valued at approximately $37,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of HP in the third quarter valued at approximately $40,000. Institutional investors own 77.53% of the company’s stock.

HP Trading Down 1.2 %

Shares of NYSE HPQ opened at $34.55 on Friday. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The business has a fifty day simple moving average of $36.59 and a 200 day simple moving average of $35.81. The firm has a market capitalization of $33.30 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 2.95 and a beta of 1.04.

HP (NYSE:HPQ) last released its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The company 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 firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. On average, research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP announced that its board has authorized a share buyback plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

HP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be paid a $0.2894 dividend. 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 is Wednesday, December 11th. HP’s dividend payout ratio is currently 41.28%.

Insider Transactions at HP

In other HP news, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,679 shares of company stock valued at $6,752,491. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on HPQ shares. Citigroup lowered their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Loop Capital decreased their target price on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Finally, Barclays upped their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.