HP Inc. (NYSE:HPQ) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC grew its stake in HP Inc. (NYSE:HPQ) by 7.5% during the third quarter, HoldingsChannel reports. The firm owned 141,157 shares of the computer maker’s stock after purchasing an additional 9,800 shares during the quarter. Janus Henderson Group PLC’s holdings in HP were worth $5,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in HP in the 3rd quarter valued at $25,000. Triad Wealth Partners LLC acquired a new position in shares of HP during the second quarter worth about $33,000. Wolff Wiese Magana LLC raised its holdings in HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in HP in the 3rd quarter valued at approximately $37,000. Finally, DecisionPoint Financial LLC acquired a new position in HP during the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Price Performance

Shares of HP stock opened at $34.94 on Wednesday. The business has a 50 day moving average price of $36.64 and a 200 day moving average price of $35.80. The company has a market capitalization of $33.67 billion, a P/E ratio of 12.43, a P/E/G ratio of 3.09 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 issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $14.06 billion for 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 business’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 earnings per share. As a group, research analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock buyback programs are generally an indication 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. Stockholders of record on Wednesday, December 11th will be given a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Wednesday, December 11th. This is a positive change from HP’s previous quarterly dividend of $0.28. HP’s payout ratio is currently 40.93%.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction on Thursday, September 12th. The stock was 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 $99.48. This represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the sale, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 358,893 shares of company stock valued at $12,363,877. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on HPQ. UBS Group raised their price target on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Barclays upped their price target on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Morgan Stanley reduced 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 note on Thursday, August 29th. Citigroup lowered their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. reduced their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.77.

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.