Glenmede Trust Co. NA Has $17.25 Million Stock Position in HP Inc. (NYSE:HPQ)

Glenmede Trust Co. NA lifted its position in shares of HP Inc. (NYSE:HPQ) by 201.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 480,829 shares of the computer maker’s stock after purchasing an additional 321,455 shares during the quarter. Glenmede Trust Co. NA’s holdings in HP were worth $17,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of HPQ. Primecap Management Co. CA boosted its stake in HP by 6.2% during the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after buying an additional 1,319,731 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of 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 acquiring an additional 1,455,138 shares in the last quarter. Legal & General Group Plc increased its stake in HP by 11.3% in 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 acquiring an additional 1,089,848 shares during the period. Bank of New York Mellon Corp raised its position in HP by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock worth $294,253,000 after purchasing an additional 287,861 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in HP by 11.2% during the third 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 during the period. 77.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. The trade was a 100.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

HP Trading Down 11.4 %

Shares of HPQ stock opened at $34.66 on Friday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The firm’s 50 day moving average is $36.56 and its 200-day moving average is $35.52. The firm has a market capitalization 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 posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The firm 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 266.37% and a net margin of 5.33%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. On average, equities research analysts forecast that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has approved a share 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 buy up to 28.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

HP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.2894 per share. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.34%. The ex-dividend date is Wednesday, December 11th. HP’s payout ratio is currently 38.60%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HPQ shares. Morgan Stanley dropped 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. Barclays lifted their price objective on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday. Loop Capital lowered 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. Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Friday, September 27th. Finally, TD Cowen upped their price objective on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, HP presently has a consensus rating of “Hold” and an average target price of $36.32.

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.