HP Inc. (NYSE:HPQ) Shares Purchased by DME Capital Management LP

DME Capital Management LP raised its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 108.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,373,030 shares of the computer maker's stock after purchasing an additional 1,757,070 shares during the quarter. HP comprises 5.8% of DME Capital Management LP's holdings, making the stock its 4th biggest position. DME Capital Management LP owned approximately 0.34% of HP worth $118,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. WMG Financial Advisors LLC increased its stake in HP by 4.2% during the 2nd quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker's stock valued at $274,000 after purchasing an additional 315 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of HP by 2.9% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 12,296 shares of the computer maker's stock valued at $431,000 after acquiring an additional 345 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of HP by 11.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,568 shares of the computer maker's stock valued at $125,000 after acquiring an additional 372 shares during the last quarter. Jacobi Capital Management LLC boosted its holdings in shares of HP by 1.2% in the 1st quarter. Jacobi Capital Management LLC now owns 34,228 shares of the computer maker's stock valued at $1,034,000 after acquiring an additional 390 shares during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of HP by 9.6% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 4,506 shares of the computer maker's stock valued at $158,000 after acquiring an additional 395 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.

Analysts Set New Price Targets

HPQ has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of HP from $25.00 to $30.00 and gave the company an "underweight" rating in a report on Thursday, May 30th. 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 report on Thursday, August 29th. TD Cowen upped their price objective on shares of HP from $30.00 to $32.00 and gave the company a "hold" rating in a report on Thursday, May 30th. JPMorgan Chase & Co. upped their price objective on shares of HP from $38.00 to $42.00 and gave the company an "overweight" rating in a report on Friday, August 23rd. Finally, Citigroup increased their price target on shares of HP from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, HP currently has a consensus rating of "Hold" and an average price target of $35.55.

HP Trading Up 2.2 %

HPQ traded up $0.80 during midday trading on Thursday, hitting $36.85. 6,244,464 shares of the company traded hands, compared to its average volume of 8,009,465. The company has a market capitalization of $36.06 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 2.35 and a beta of 1.07. HP Inc. has a 52-week low of $25.22 and a 52-week high of $39.52. The business has a 50 day simple moving average of $35.02 and a two-hundred day simple moving average of $33.15.

HP (NYSE:HPQ - Get Free Report) last posted 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 company 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 revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. Equities research analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 3 shares of the company's stock, valued at $99.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company's stock.

HP 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.