HP Inc. (NYSE:HPQ) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its position in shares of HP Inc. (NYSE:HPQ) by 7.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 389,038 shares of the computer maker’s stock after acquiring an additional 26,457 shares during the quarter. Royal London Asset Management Ltd.’s holdings in HP were worth $13,624,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sawyer & Company Inc raised its holdings in shares of HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after acquiring an additional 900 shares during the last quarter. Rise Advisors LLC raised its holdings in shares of HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 839 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of HP during the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HP in the second quarter valued at approximately $34,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of HP in the second quarter valued at approximately $48,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HPQ. Citigroup increased their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. UBS Group increased 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. TD Cowen increased their price target on HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Wells Fargo & Company increased their price target on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Finally, Barclays cut their price target on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $35.55.

HP Stock Down 0.8 %

HPQ opened at $33.11 on Friday. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The business has a fifty day simple moving average of $35.32 and a 200-day simple moving average of $32.79. The firm has a market cap of $32.40 billion, a P/E ratio of 11.18, a P/E/G ratio of 2.26 and a beta of 1.07.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts expect that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its Board of Directors has initiated a stock 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Transactions at HP

In other news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.41% of the company’s stock.

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.