Tokio Marine Asset Management Co. Ltd. Purchases 2,812 Shares of HP Inc. (NYSE:HPQ)

Tokio Marine Asset Management Co. Ltd. raised its stake in HP Inc. (NYSE:HPQ) by 11.3% during the third quarter, Holdings Channel reports. The fund owned 27,714 shares of the computer maker’s stock after buying an additional 2,812 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in HP were worth $994,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in HPQ. Vanguard Group Inc. grew its holdings in HP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after buying an additional 3,062,441 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in HP during the second quarter valued at about $62,672,000. DME Capital Management LP grew its position in HP by 108.7% during the 2nd quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock worth $118,124,000 after acquiring an additional 1,757,070 shares during the last quarter. Primecap Management Co. CA raised its holdings in HP by 6.2% during the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock valued at $786,237,000 after buying an additional 1,319,731 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of HP by 11.3% during the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock worth $375,079,000 after purchasing an additional 1,089,848 shares during the period. Institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on HPQ shares. UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their price objective on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Friday, September 27th. Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Tuesday, October 1st. 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 note 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 issued a buy rating to the stock. According to MarketBeat, HP presently has an average rating of “Hold” and an average price target of $35.55.

HP Trading Up 0.6 %

NYSE:HPQ opened at $36.72 on Friday. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.52. The firm has a fifty day simple moving average of $35.91 and a 200-day simple moving average of $34.92. The company has a market capitalization of $35.39 billion, a P/E ratio of 12.88, a PEG ratio of 2.52 and a beta of 1.07.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. During the same period in the previous year, the firm posted $0.86 EPS. HP’s revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 211,501 shares of the company’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 transaction, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. This represents a 100.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

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.