Brooklyn Investment Group Sells 2,648 Shares of HP Inc. (NYSE:HPQ)

Brooklyn Investment Group trimmed its holdings in HP Inc. (NYSE:HPQ) by 37.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,456 shares of the computer maker’s stock after selling 2,648 shares during the quarter. Brooklyn Investment Group’s holdings in HP were worth $160,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. LVW Advisors LLC lifted its position in HP by 1.2% in the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after purchasing an additional 278 shares during the period. Castleview Partners LLC lifted its position in HP by 8.1% in 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 during the period. Versant Capital Management Inc raised its stake in HP by 5.9% during the third quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after acquiring an additional 297 shares in the last quarter. King Luther Capital Management Corp raised its stake in HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after acquiring an additional 303 shares in the last quarter. Finally, Arvest Investments Inc. raised its stake in HP by 0.9% during the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after acquiring an additional 310 shares in the last quarter. 77.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on HPQ shares. Citigroup dropped their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday. UBS Group increased their price objective on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Friday, September 27th. Barclays increased their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.32.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. The trade was a 100.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

HP Trading Down 11.4 %

Shares of NYSE:HPQ opened at $34.66 on Thursday. The stock has a market capitalization of $33.40 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.70 and a beta of 1.07. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The business has a 50-day moving average price of $36.56 and a two-hundred day moving average price of $35.52.

HP (NYSE:HPQ) last announced its quarterly earnings data 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 analysts’ expectations of $13.99 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. As a group, equities analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP Increases Dividend

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

HP declared that its board has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.