HP Inc. (NYSE:HPQ) Shares Acquired by Assetmark Inc.

Assetmark Inc. increased its position in HP Inc. (NYSE:HPQ - Free Report) by 40.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 132,269 shares of the computer maker's stock after purchasing an additional 38,331 shares during the quarter. Assetmark Inc.'s holdings in HP were worth $4,745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in HPQ. Vanguard Group Inc. raised its stake in shares of HP by 2.6% in the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker's stock worth $3,649,919,000 after purchasing an additional 3,062,441 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker's stock worth $786,237,000 after purchasing an additional 1,319,731 shares during the last quarter. Legal & General Group Plc raised its stake in shares of HP by 11.3% in the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker's stock worth $375,079,000 after purchasing an additional 1,089,848 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of HP by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker's stock worth $294,253,000 after purchasing an additional 287,861 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of HP by 4.1% in the second quarter. AQR Capital Management LLC now owns 5,359,174 shares of the computer maker's stock worth $186,928,000 after purchasing an additional 213,116 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Bank of America cut HP from a "buy" rating to a "neutral" rating and set a $37.00 price target for the company. in a research note on Friday, September 27th. Morgan Stanley cut their price objective on HP from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on HP from $38.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, August 23rd. UBS Group lifted their price objective on HP from $34.00 to $37.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Finally, Citigroup lowered 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $35.55.

HP Trading Down 1.5 %

HPQ traded down $0.56 during midday trading on Tuesday, hitting $37.11. 6,535,608 shares of the company were exchanged, compared to its average volume of 7,770,828. The company's 50 day simple moving average is $35.80 and its 200 day simple moving average is $34.83. The firm has a market capitalization of $35.76 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.52.

HP (NYSE:HPQ - Get Free Report) last posted its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same quarter last year, the business earned $0.86 earnings per share. HP's revenue was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that HP Inc. will post 3.39 EPS for the current year.

HP announced that its board has authorized a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Insider Activity

In other HP news, CEO Enrique Lores sold 211,501 shares of the business's stock in a transaction that occurred on 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 owns 3 shares of the company's stock, valued at $99.48. The trade was 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.

About HP

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.