HP Inc. (NYSE:HPQ) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its holdings in HP Inc. (NYSE:HPQ - Free Report) by 17.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,442 shares of the computer maker's stock after acquiring an additional 17,335 shares during the period. Daiwa Securities Group Inc.'s holdings in HP were worth $4,284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swedbank AB raised its position in HP by 0.3% during the third quarter. Swedbank AB now owns 684,510 shares of the computer maker's stock valued at $24,553,000 after acquiring an additional 1,811 shares in the last quarter. Great Valley Advisor Group Inc. boosted its position in HP by 7.9% during the third quarter. Great Valley Advisor Group Inc. now owns 11,171 shares of the computer maker's stock worth $401,000 after purchasing an additional 814 shares in the last quarter. Raymond James Trust N.A. grew its holdings in HP by 22.8% in the third quarter. Raymond James Trust N.A. now owns 57,687 shares of the computer maker's stock valued at $2,069,000 after purchasing an additional 10,702 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of HP by 11.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker's stock valued at $241,876,000 after buying an additional 678,985 shares in the last quarter. Finally, Smithfield Trust Co raised its stake in shares of HP by 19.2% during the 3rd quarter. Smithfield Trust Co now owns 24,809 shares of the computer maker's stock worth $890,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 77.53% of the company's stock.

Insider Activity

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 value 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 $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

HPQ has been the topic of a number of research analyst reports. Citigroup cut shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price target on the stock. in a research note on Tuesday, October 1st. JPMorgan Chase & Co. cut their target price on shares of HP from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. UBS Group raised their price target 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. Loop Capital cut 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. Finally, Barclays decreased their target price 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $35.45.

HP Stock Down 0.6 %

Shares of HP stock opened at $39.08 on Wednesday. The business's fifty day simple moving average is $36.56 and its 200-day simple moving average is $35.53. The firm has a market cap of $37.66 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP's revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 earnings per share. As a group, equities analysts expect that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its board has initiated a share 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 buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.