Sumitomo Mitsui DS Asset Management Company Ltd Buys 12,753 Shares of HP Inc. (NYSE:HPQ)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in HP Inc. (NYSE:HPQ) by 14.0% during the second quarter, Holdings Channel.com reports. The fund owned 103,537 shares of the computer maker’s stock after purchasing an additional 12,753 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in HP were worth $3,626,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of HPQ. Triad Wealth Partners LLC bought a new position in HP in the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HP in the second quarter valued at about $34,000. Sawyer & Company Inc lifted its stake in HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after acquiring an additional 900 shares during the period. Rise Advisors LLC grew its holdings in HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after acquiring an additional 839 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its position in HP by 136.8% during the 1st quarter. Sunbelt Securities Inc. now owns 1,769 shares of the computer maker’s stock valued at $53,000 after purchasing an additional 1,022 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday. TD Cowen increased their target price on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. UBS Group boosted their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Bank of America boosted their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.60.

Insiders Place Their Bets

In other news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by insiders.

HP Stock Up 2.0 %

HPQ stock opened at $36.18 on Friday. The stock has a market capitalization of $35.40 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The firm has a 50 day moving average of $35.47 and a 200 day moving average of $32.43.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. HP had a net margin of 5.60% and a negative return on equity of 230.39%. HP’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. On average, equities research analysts expect that HP Inc. will post 3.45 earnings per share for the current year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a $0.2756 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s payout ratio is 37.16%.

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.