Asset Management One Co. Ltd. Grows Stock Position in HP Inc. (NYSE:HPQ)

Asset Management One Co. Ltd. lifted its holdings in shares of HP Inc. (NYSE:HPQ) by 3.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 391,224 shares of the computer maker’s stock after acquiring an additional 14,655 shares during the period. Asset Management One Co. Ltd.’s holdings in HP were worth $14,033,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of HPQ. Chris Bulman Inc purchased a new stake in HP during the 2nd quarter worth approximately $88,000. Swiss National Bank grew its holdings in shares of HP by 1.4% during the first quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock valued at $85,193,000 after buying an additional 37,800 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in HP in the 2nd quarter worth $621,000. Cetera Investment Advisers lifted its position in HP by 154.7% during the 1st quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker’s stock worth $3,309,000 after acquiring an additional 66,510 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in HP by 11.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 193,700 shares of the computer maker’s stock valued at $6,947,000 after purchasing an additional 19,845 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HPQ shares. Loop Capital reduced their price objective on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Tuesday, October 1st. UBS Group raised their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Barclays lowered their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Finally, Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.55.

HP Trading Up 0.7 %

Shares of HPQ stock opened at $36.91 on Thursday. The company has a market capitalization of $35.57 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.46 and a beta of 1.07. HP Inc. has a 12-month low of $27.01 and a 12-month high of $39.52. The business’s 50 day moving average is $35.72 and its two-hundred day moving average is $34.59.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. On average, research analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has initiated a share buyback program on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the sale, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate 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.