HP Inc. (NYSE:HPQ) Position Trimmed by LSV Asset Management

LSV Asset Management trimmed its holdings in shares of HP Inc. (NYSE:HPQ) by 0.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,670,036 shares of the computer maker’s stock after selling 4,610 shares during the period. HP comprises approximately 1.0% of LSV Asset Management’s investment portfolio, making the stock its 13th biggest position. LSV Asset Management’s holdings in HP were worth $443,705,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new stake in HP during the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP in the 2nd quarter valued at approximately $34,000. Sawyer & Company Inc lifted its position in shares of HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after acquiring an additional 900 shares in the last quarter. Rise Advisors LLC lifted its position in shares of HP by 377.9% in the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 839 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in shares of HP in the 2nd quarter valued at approximately $48,000. 77.53% of the stock is currently owned by institutional investors.

Insider Transactions at HP

In other news, insider Alex Cho sold 173,137 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the transaction, the insider now owns 64,676 shares in the company, valued at approximately $2,335,450.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.41% of the stock is currently owned by company insiders.

HP Trading Down 1.7 %

HPQ stock traded down $0.58 during midday trading on Friday, reaching $33.82. The company had a trading volume of 7,995,956 shares, compared to its average volume of 7,880,553. The company has a 50 day moving average of $35.43 and a two-hundred day moving average of $32.68. HP Inc. has a 1 year low of $25.22 and a 1 year high of $39.52. The company has a market capitalization of $33.09 billion, a P/E ratio of 11.43, a PEG ratio of 2.32 and a beta of 1.07.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same quarter last year, the company earned $0.86 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that HP Inc. will post 3.4 earnings per share for the current year.

HP declared that its board has initiated a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a dividend of $0.2756 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 3.26%. HP’s dividend payout ratio (DPR) is 37.16%.

Wall Street Analyst Weigh In

HPQ has been the subject of several research analyst reports. Citigroup upped their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Loop Capital reduced their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday. Bank of America upped their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Barclays reduced their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, Wells Fargo & Company upped their price target on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, HP currently has a consensus rating of “Hold” and a consensus target price of $35.55.

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.