Optimist Retirement Group LLC Has $2.30 Million Stake in HP Inc. (NYSE:HPQ)

Optimist Retirement Group LLC decreased its stake in shares of HP Inc. (NYSE:HPQ) by 1.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 64,090 shares of the computer maker’s stock after selling 1,008 shares during the period. HP accounts for about 1.0% of Optimist Retirement Group LLC’s holdings, making the stock its 28th largest position. Optimist Retirement Group LLC’s holdings in HP were worth $2,299,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new stake in HP during the 3rd quarter valued at approximately $25,000. Triad Wealth Partners LLC bought a new stake in HP during the 2nd quarter valued at approximately $33,000. Wolff Wiese Magana LLC boosted its stake in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after purchasing an additional 518 shares during the period. ORG Wealth Partners LLC bought a new stake in HP during the 3rd quarter valued at approximately $37,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of HP in the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity at HP

In related news, insider Alex Cho sold 10,298 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 187,679 shares of company stock worth $6,752,491. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group raised their price target on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Morgan Stanley lowered their target price on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. Loop Capital lowered 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, Citigroup reduced their price target on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. One 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. According to MarketBeat.com, HP has an average rating of “Hold” and an average target price of $36.45.

HP Trading Up 0.6 %

Shares of HP stock traded up $0.20 during trading on Thursday, reaching $34.75. The stock had a trading volume of 577,770 shares, compared to its average volume of 7,827,114. The stock has a fifty day moving average price of $36.63 and a two-hundred day moving average price of $35.81. The company has a market capitalization of $33.49 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 3.09 and a beta of 1.04. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

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 negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter in the previous year, the business earned $0.90 earnings per share. HP’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP declared that its Board of Directors has authorized a stock 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 buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

HP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a $0.2894 dividend. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Wednesday, December 11th. HP’s payout ratio is 40.93%.

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.