Nomura Asset Management Co. Ltd. Purchases 25,548 Shares of HP Inc. (NYSE:HPQ)

Nomura Asset Management Co. Ltd. boosted its holdings in HP Inc. (NYSE:HPQ - Free Report) by 6.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 413,572 shares of the computer maker's stock after purchasing an additional 25,548 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in HP were worth $14,835,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC raised its position in shares of HP by 22.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 22,581 shares of the computer maker's stock worth $791,000 after purchasing an additional 4,143 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in HP by 4.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 196,208 shares of the computer maker's stock worth $6,871,000 after buying an additional 7,858 shares during the last quarter. ORG Partners LLC lifted its stake in shares of HP by 241.0% in the second quarter. ORG Partners LLC now owns 1,913 shares of the computer maker's stock worth $67,000 after buying an additional 1,352 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of HP by 5.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 96,571 shares of the computer maker's stock valued at $3,382,000 after buying an additional 5,114 shares during the last quarter. Finally, Montecito Bank & Trust increased its position in shares of HP by 31.8% during the second quarter. Montecito Bank & Trust now owns 16,999 shares of the computer maker's stock valued at $595,000 after acquiring an additional 4,099 shares in the last quarter. Institutional investors own 77.53% of the company's stock.

Insiders Place Their Bets

In related news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the sale, the chief executive officer now owns 89,272 shares in the company, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alex Cho sold 40,287 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at approximately $2,250,724.80. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 187,679 shares of company stock worth $6,752,491. Company insiders own 0.41% of the company's stock.

HP Stock Up 1.2 %

HPQ traded up $0.43 during trading on Thursday, hitting $34.98. The company's stock had a trading volume of 5,143,514 shares, compared to its average volume of 7,846,775. The business's 50 day simple moving average is $36.63 and its 200-day simple moving average is $35.81. The firm has a market cap of $33.71 billion, a PE ratio of 12.29, a P/E/G ratio of 3.09 and a beta of 1.04. HP Inc. has a one year low of $27.42 and a one year 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 EPS for the quarter, hitting analysts' consensus estimates of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $14.06 billion for the quarter, compared to analysts' expectations of $13.99 billion. During the same period last year, the firm earned $0.90 EPS. HP's revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP declared that its board has approved a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

HP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 3.31%. This is a positive change from HP's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, December 11th. HP's dividend payout ratio is currently 40.93%.

Analyst Ratings Changes

Several research firms recently issued reports on HPQ. TD Cowen upped their price objective on HP from $32.00 to $39.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. Citigroup dropped their price objective on HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley decreased their target price on HP from $37.00 to $36.00 and set an "equal weight" rating for the company in a research report on Thursday, August 29th. JPMorgan Chase & Co. dropped their price target on shares of HP from $42.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. Finally, Barclays boosted their price objective on shares of HP from $32.00 to $35.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, HP has an average rating of "Hold" and an average price target of $36.45.

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.