HP Inc. (NYSE:HPQ) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd increased its stake in shares of HP Inc. (NYSE:HPQ) by 10.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,495 shares of the computer maker’s stock after acquiring an additional 2,130 shares during the quarter. XTX Topco Ltd’s holdings in HP were worth $823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in HP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after acquiring an additional 3,062,441 shares in the last quarter. Primecap Management Co. CA increased its stake in HP by 6.2% in 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 period. LSV Asset Management increased its stake in HP by 3.3% in 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 period. Northern Trust Corp increased its stake in HP by 0.4% in the fourth quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock valued at $306,089,000 after purchasing an additional 40,884 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in 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 valued at $294,253,000 after purchasing an additional 287,861 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Bank of America lifted their price objective on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company lifted their price objective on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Morgan Stanley dropped their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. TD Cowen lifted their target price on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Finally, Citigroup lifted their target price on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, HP has an average rating of “Hold” and a consensus price target of $35.55.

HP Trading Down 0.2 %

HPQ stock opened at $34.76 on Monday. The company has a market cap of $34.01 billion, a P/E ratio of 11.74, a P/E/G ratio of 2.23 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 company’s 50-day moving average price is $35.15 and its 200 day moving average price is $33.06.

HP (NYSE:HPQ) last announced its quarterly earnings results 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). 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 during the quarter, compared to analysts’ expectations of $13.37 billion. During the same period last year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts expect that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.