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

Asset Management One Co. Ltd. lifted its position in HP Inc. (NYSE:HPQ - Free Report) by 3.9% during the third 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 buying an additional 14,655 shares during the quarter. Asset Management One Co. Ltd.'s holdings in HP were worth $14,033,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of HP by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker's stock valued at $3,649,919,000 after acquiring an additional 3,062,441 shares in the last quarter. Primecap Management Co. CA lifted its position 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 valued at $786,237,000 after purchasing an additional 1,319,731 shares during the last quarter. LSV Asset Management lifted its position in HP by 3.3% during the first quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker's stock valued at $383,028,000 after purchasing an additional 403,355 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of HP by 11.3% in the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker's stock worth $375,079,000 after buying an additional 1,089,848 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of HP by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker's stock valued at $294,253,000 after buying an additional 287,861 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HPQ has been the subject of a number of research reports. Barclays cut their price objective on HP from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on shares of HP from $38.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, August 23rd. Citigroup lowered shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price objective for the company. in a report on Tuesday, October 1st. UBS Group upped their price objective on shares of HP from $34.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, August 29th. Finally, Loop Capital decreased their target price on shares of HP from $37.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $35.55.

HP Stock Performance

Shares of NYSE HPQ traded up $0.44 during trading hours on Thursday, hitting $37.35. The company's stock had a trading volume of 5,795,795 shares, compared to its average volume of 7,774,833. HP Inc. has a 12 month low of $27.01 and a 12 month high of $39.52. The stock has a market cap of $35.99 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 2.46 and a beta of 1.07. The business has a 50-day simple moving average of $35.72 and a 200-day simple moving average of $34.59.

HP (NYSE:HPQ - Get Free Report) last issued 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). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. HP's quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that HP Inc. will post 3.39 EPS for the current year.

HP announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3 shares of the company's stock, valued at approximately $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 accessible through this link. 0.41% of the stock is owned by company insiders.

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.