HP Inc. (NYSE:HPQ) Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of HP Inc. (NYSE:HPQ) by 8.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,640 shares of the computer maker’s stock after purchasing an additional 2,654 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in HP were worth $1,143,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Triad Wealth Partners LLC acquired a new position in shares of HP during the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HP during the second quarter valued at $34,000. Sawyer & Company Inc increased its holdings in shares of HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after purchasing an additional 900 shares during the period. Rise Advisors LLC increased its holdings in shares of HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares during the period. Finally, DecisionPoint Financial LLC acquired a new position in shares of HP during the second quarter valued at $43,000. 77.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HPQ has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. lifted their target price on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. TD Cowen lifted their target price on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Bank of America lifted their target price on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, UBS Group lifted their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.55.

HP Stock Up 0.8 %

NYSE:HPQ opened at $34.82 on Friday. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52. The firm has a market capitalization of $34.07 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07. The stock has a fifty day simple moving average of $35.19 and a 200 day simple moving average of $32.97.

HP (NYSE:HPQ) last announced its quarterly earnings data 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 negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. The company’s revenue was up 2.4% compared to the same quarter last year. Equities analysts predict 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 buyback plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the sale, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.