HP Inc. (NYSE:HPQ) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its holdings in shares of HP Inc. (NYSE:HPQ) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,228 shares of the computer maker’s stock after buying an additional 6,299 shares during the period. Thrivent Financial for Lutherans’ holdings in HP were worth $2,303,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. LVW Advisors LLC increased its stake in shares of HP by 1.2% during the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after purchasing an additional 278 shares in the last quarter. Castleview Partners LLC lifted its holdings in HP by 8.1% in the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock worth $138,000 after buying an additional 289 shares in the last quarter. Versant Capital Management Inc lifted its holdings in HP by 5.9% in the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after buying an additional 297 shares in the last quarter. Arvest Investments Inc. increased its position in shares of HP by 0.9% in the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after purchasing an additional 310 shares during the last quarter. Finally, WMG Financial Advisors LLC increased its position in shares of HP by 4.2% in the 2nd quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock worth $274,000 after purchasing an additional 315 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. TD Cowen boosted their price objective on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday. Morgan Stanley reduced their target price on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Citigroup cut their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday. Barclays raised their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, UBS Group increased their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.32.

HP Stock Performance

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

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

HP Increases Dividend

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

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

Insider Activity

In other news, CEO Enrique Lores sold 211,501 shares of the firm’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 transaction of $7,013,373.16. Following the completion of the transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by company insiders.

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.