HP Inc. (NYSE:HPQ) Shares Purchased by D Orazio & Associates Inc.

D Orazio & Associates Inc. lifted its holdings in HP Inc. (NYSE:HPQ) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,766 shares of the computer maker’s stock after acquiring an additional 651 shares during the period. D Orazio & Associates Inc.’s holdings in HP were worth $314,000 as of its most recent SEC filing.

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

Insider Activity

In other HP news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. 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 report on Thursday, August 29th. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Tuesday, October 1st. Morgan Stanley lowered their price target on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Loop Capital dropped their price target on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lifted 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.55.

HP Price Performance

Shares of NYSE HPQ traded down $0.10 during midday trading on Wednesday, hitting $37.01. 1,479,670 shares of the company’s stock were exchanged, compared to its average volume of 7,742,243. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.52. The firm has a market cap of $35.67 billion, a P/E ratio of 13.03, a PEG ratio of 2.58 and a beta of 1.07. The stock’s 50 day moving average price is $35.84 and its 200-day moving average price is $34.90.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the business posted $0.86 earnings per share. On average, analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.