RPg Family Wealth Advisory LLC Invests $44,000 in HP Inc. (NYSE:HPQ)

RPg Family Wealth Advisory LLC bought a new position in HP Inc. (NYSE:HPQ) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,223 shares of the computer maker’s stock, valued at approximately $44,000.

A number of other institutional investors have also bought and sold shares of HPQ. Primecap Management Co. CA boosted its stake in shares of HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after acquiring an additional 1,319,731 shares during the period. Pacer Advisors Inc. grew its holdings in HP by 11.4% during the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after buying an additional 1,455,138 shares in the last quarter. Legal & General Group Plc raised its position in shares of HP by 11.3% during the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after buying an additional 1,089,848 shares during the last quarter. Bank of New York Mellon Corp grew its stake in HP by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock valued at $294,253,000 after acquiring an additional 287,861 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in HP by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker’s stock worth $241,876,000 after purchasing an additional 678,985 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Down 11.4 %

HPQ opened at $34.66 on Thursday. The business has a fifty day moving average of $36.56 and a 200 day moving average of $35.52. The stock has a market cap of $33.40 billion, a P/E ratio of 12.16, a PEG ratio of 2.70 and a beta of 1.07. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79.

HP (NYSE:HPQ) last posted its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. Equities analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

HP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a $0.2894 dividend. This is a positive change from HP’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.34%. HP’s payout ratio is presently 38.60%.

HP declared that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently commented on HPQ shares. Morgan Stanley decreased their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Barclays increased their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased 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. Loop Capital reduced their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, Citigroup dropped their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, HP presently has a consensus rating of “Hold” and a consensus target price of $36.32.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by insiders.

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.