Asset Management One Co. Ltd. Increases Holdings in HP Inc. (NYSE:HPQ)

Asset Management One Co. Ltd. increased its stake in HP Inc. (NYSE:HPQ) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Chris Bulman Inc purchased a new position in shares of HP in the 2nd quarter worth approximately $88,000. Swiss National Bank increased its position in 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 acquiring an additional 37,800 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of HP in the second quarter valued at $621,000. Cetera Investment Advisers lifted its holdings in shares of HP by 154.7% in 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 last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of 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 worth $6,947,000 after purchasing an additional 19,845 shares during the period. 77.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HPQ has been the subject of several analyst reports. Bank of America downgraded 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 Friday, September 27th. UBS Group raised their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Barclays cut their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Loop Capital decreased their target price on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $35.55.

HP Price Performance

Shares of HP stock opened at $36.91 on Thursday. HP Inc. has a 1 year low of $27.01 and a 1 year high of $39.52. The stock has a market cap of $35.57 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.46 and a beta of 1.07. The firm’s 50-day moving average is $35.72 and its two-hundred day moving average is $34.59.

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

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

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.41% of the company’s stock.

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.