1,000,000 Shares in HP Inc. (NYSE:HPQ) Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of HP Inc. (NYSE:HPQ) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 1,000,000 shares of the computer maker’s stock, valued at approximately $35,870,000.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of HP during the third quarter worth $25,000. Triad Wealth Partners LLC acquired a new stake in HP during the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HP during the second quarter valued at $34,000. Wolff Wiese Magana LLC grew its position in HP by 115.1% during 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 during the period. Finally, ORG Wealth Partners LLC acquired a new stake in HP during the third quarter valued at $37,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HPQ. JPMorgan Chase & Co. dropped their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. UBS Group raised their price target on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Morgan Stanley dropped their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Loop Capital dropped their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Finally, TD Cowen lifted their target price on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, HP currently has a consensus 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 that occurred on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. The trade was a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is owned by insiders.

HP Trading Down 11.4 %

HPQ opened at $34.66 on Thursday. The firm has a market capitalization of $33.40 billion, a PE ratio of 12.16, a PEG ratio of 2.70 and a beta of 1.07. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The firm’s 50-day moving average price is $36.56 and its 200 day moving average price is $35.52.

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

HP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 is an increase from HP’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 3.34%. HP’s payout ratio is 38.60%.

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

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.