DRW Securities LLC Invests $207,000 in HP Inc. (NYSE:HPQ)

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

Several other institutional investors and hedge funds have also bought and sold shares of HPQ. Lazard Asset Management LLC lifted its holdings in shares of HP by 3,567.3% during the 1st quarter. Lazard Asset Management LLC now owns 34,143 shares of the computer maker’s stock worth $1,030,000 after acquiring an additional 33,212 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in HP by 1.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,191,666 shares of the computer maker’s stock worth $36,013,000 after purchasing an additional 15,675 shares during the last quarter. Tidal Investments LLC lifted its stake in HP by 15.9% during the first quarter. Tidal Investments LLC now owns 114,994 shares of the computer maker’s stock worth $3,474,000 after purchasing an additional 15,815 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of HP by 373.2% in the 1st quarter. iA Global Asset Management Inc. now owns 48,753 shares of the computer maker’s stock valued at $1,473,000 after purchasing an additional 38,450 shares in the last quarter. Finally, Wahed Invest LLC increased its stake in shares of HP by 14.5% in the 1st quarter. Wahed Invest LLC now owns 16,890 shares of the computer maker’s stock valued at $510,000 after purchasing an additional 2,140 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

In other news, 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 sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HPQ has been the topic of several research analyst reports. TD Cowen raised their price objective on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Morgan Stanley lowered their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Barclays increased their price objective on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Bank of America cut shares of 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, HP presently has a consensus rating of “Hold” and a consensus target price of $36.32.

HP Stock Performance

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

HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The business 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%. HP’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 earnings per share. Research analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP announced that its board has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

HP Increases Dividend

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

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.