5,763 Shares in HP Inc. (NYSE:HPQ) Purchased by DRW Securities LLC

DRW Securities LLC purchased a new stake in shares of HP Inc. (NYSE:HPQ) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,763 shares of the computer maker’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Primecap Management Co. CA boosted its position in shares of HP by 6.2% during 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 during the last quarter. Pacer Advisors Inc. lifted its stake in HP by 11.4% during the 3rd 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 boosted its holdings in HP by 11.3% during the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock worth $375,079,000 after acquiring an additional 1,089,848 shares during the last quarter. Bank of New York Mellon Corp grew its stake 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 acquiring an additional 287,861 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of HP by 11.2% in the third 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 last quarter. 77.53% of the stock is owned by institutional investors.

HP Stock Performance

HPQ stock opened at $34.66 on Thursday. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The stock has a fifty day moving average of $36.56 and a 200-day moving average of $35.52. The company has a market capitalization of $33.40 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 2.70 and a beta of 1.07.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting the consensus estimate 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 5.33% and a negative return on equity of 266.37%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. Equities analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP announced that its Board of Directors has initiated a share 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 purchase up to 28.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

HP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.2894 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.34%. This is an increase from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio is currently 38.60%.

Insider Transactions at HP

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HPQ. Barclays boosted their price target on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday. Bank of America downgraded 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. Morgan Stanley decreased their price target on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Loop Capital cut their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. decreased their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, HP presently has an average rating of “Hold” and a consensus target price of $36.32.

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.