United Services Automobile Association Sells 67,185 Shares of HP Inc. (NYSE:HPQ)

United Services Automobile Association cut its position in HP Inc. (NYSE:HPQ) by 25.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,095 shares of the computer maker’s stock after selling 67,185 shares during the quarter. United Services Automobile Association’s holdings in HP were worth $7,142,000 as of its most recent SEC filing.

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

Insider Activity at HP

In other 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 transaction of $353,427.36. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the completion of the transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

HP Price Performance

Shares of HPQ stock opened at $36.19 on Friday. The business has a 50-day moving average of $36.61 and a 200 day moving average of $35.70. The stock has a market capitalization of $34.88 billion, a PE ratio of 12.88, a P/E/G ratio of 3.10 and a beta of 1.04. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) 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 negative return on equity of 253.39% and a net margin of 5.18%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. Analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

HP Increases Dividend

The company also recently disclosed 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. This represents a $1.16 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Wednesday, December 11th. HP’s payout ratio is presently 39.15%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Loop Capital decreased their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. TD Cowen boosted their target price on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Barclays lifted their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Citigroup cut their target price 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 research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $36.77.

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.