29,041 Shares in HP Inc. (NYSE:HPQ) Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB bought a new stake in HP Inc. (NYSE:HPQ) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 29,041 shares of the computer maker’s stock, valued at approximately $1,042,000.

A number of other large investors have also added to or reduced their stakes in HPQ. LVW Advisors LLC raised its stake in shares of HP by 1.2% during the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after acquiring an additional 278 shares in the last quarter. Castleview Partners LLC increased its position in shares of HP by 8.1% during the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock worth $138,000 after purchasing an additional 289 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of HP by 5.9% during the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock valued at $191,000 after purchasing an additional 297 shares during the last quarter. King Luther Capital Management Corp boosted its position in shares of HP by 3.2% in the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after purchasing an additional 303 shares in the last quarter. Finally, Arvest Investments Inc. grew its stake in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after buying an additional 310 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Friday, September 27th. Morgan Stanley dropped their price objective 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. TD Cowen raised their target price on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, Loop Capital dropped their price target on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, HP presently has an average rating of “Hold” and an average target price of $36.45.

Insider Activity

In other news, CEO Enrique Lores sold 137,094 shares of HP 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 sale, the chief executive officer now owns 89,272 shares in the company, valued at $3,253,964.40. This trade represents a 60.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alex Cho sold 40,287 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,250,724.80. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 187,679 shares of company stock worth $6,752,491 in the last ninety days. Company insiders own 0.41% of the company’s stock.

HP Stock Down 1.2 %

HP stock opened at $34.55 on Friday. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79. The firm has a market cap of $33.30 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The business’s 50-day moving average price is $36.59 and its 200 day moving average price is $35.83.

HP (NYSE:HPQ) last posted its 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. 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 analyst estimates of $13.99 billion. During the same period in the previous year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Equities analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be paid 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 presently 40.93%.

HP declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to buy up to 28.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.