HP Inc. (NYSE:HPQ) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P decreased its stake in HP Inc. (NYSE:HPQ) by 37.9% in the 3rd quarter, Holdings Channel reports. The firm owned 24,627 shares of the computer maker’s stock after selling 15,035 shares during the quarter. Martingale Asset Management L P’s holdings in HP were worth $883,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HPQ. Primecap Management Co. CA increased its holdings in HP by 6.2% in the second 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. grew its holdings in shares of HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after acquiring an additional 1,455,138 shares during the period. Legal & General Group Plc increased its stake in HP by 11.3% in the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after purchasing an additional 1,089,848 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in HP by 7.7% during the third 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 purchasing an additional 612,675 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in HP by 3.5% during the second 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. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

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

HP Trading Up 2.9 %

Shares of NYSE:HPQ opened at $36.44 on Tuesday. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The stock’s 50-day moving average price is $36.57 and its two-hundred day moving average price is $35.62. The firm has a market cap of $35.12 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 2.46 and a beta of 1.07.

HP (NYSE:HPQ) last released its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $13.99 billion. During the same period in the previous year, the firm earned $0.90 earnings per share. HP’s revenue was up 1.7% compared to the same quarter last year. As a group, research analysts forecast that HP Inc. will post 3.53 earnings per share for the current fiscal year.

HP declared that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

HP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.18%. This is an increase from HP’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. HP’s dividend payout ratio is presently 40.93%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HPQ shares. TD Cowen raised their price target on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Barclays raised 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. Citigroup reduced their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Loop Capital dropped their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Finally, Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Friday, September 27th. One research 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.77.

HP 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.