HP Inc. (NYSE:HPQ) Stock Position Raised by D Orazio & Associates Inc.

D Orazio & Associates Inc. lifted its position in HP Inc. (NYSE:HPQ) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,766 shares of the computer maker’s stock after acquiring an additional 651 shares during the quarter. D Orazio & Associates Inc.’s holdings in HP were worth $314,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of HP by 2.6% in 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 acquiring an additional 3,062,441 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of HP by 6.2% in 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 acquiring an additional 1,319,731 shares in the last quarter. Legal & General Group Plc lifted its position in shares of HP by 11.3% in the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after acquiring an additional 1,089,848 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of HP by 3.5% in the 2nd 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 acquiring an additional 287,861 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of HP by 4.1% in the 2nd quarter. AQR Capital Management LLC now owns 5,359,174 shares of the computer maker’s stock valued at $186,928,000 after acquiring an additional 213,116 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of HP stock traded down $0.10 during midday trading on Wednesday, reaching $37.01. 1,479,670 shares of the company’s stock traded hands, compared to its average volume of 7,742,243. The company has a market cap of $35.67 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 2.58 and a beta of 1.07. The company’s 50 day simple moving average is $35.84 and its 200 day simple moving average is $34.90. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.52.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts predict that HP Inc. will post 3.39 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on HPQ. Loop Capital cut their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Tuesday, October 1st. UBS Group increased their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Barclays cut their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, HP currently has a consensus rating of “Hold” and an average price target of $35.55.

Insider Activity at HP

In related news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is currently owned by company insiders.

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.