Robeco Institutional Asset Management B.V. Boosts Stock Position in HP Inc. (NYSE:HPQ)

Robeco Institutional Asset Management B.V. raised its position in shares of HP Inc. (NYSE:HPQ) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,382,919 shares of the computer maker’s stock after purchasing an additional 74,396 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.24% of HP worth $85,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of HPQ. Vanguard Group Inc. raised its position 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 purchasing an additional 3,062,441 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in HP during the 2nd quarter valued at $62,672,000. DAVENPORT & Co LLC raised its position in HP by 10,188.2% during the 1st quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock valued at $53,680,000 after purchasing an additional 1,760,631 shares in the last quarter. DME Capital Management LP raised 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 valued at $118,124,000 after purchasing an additional 1,757,070 shares in the last quarter. Finally, Primecap Management Co. CA raised its position 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 purchasing an additional 1,319,731 shares in the last quarter. 77.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup lowered 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. Morgan Stanley reduced their price target on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. UBS Group boosted their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Barclays reduced their price target on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.55.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was 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 in the company, valued at $99.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.41% of the company’s stock.

HP Stock Performance

HP stock opened at $35.99 on Tuesday. The business’s 50-day simple moving average is $35.66 and its two-hundred day simple moving average is $34.51. The company has a market cap of $34.68 billion, a PE ratio of 12.63, a PEG ratio of 2.59 and a beta of 1.07. HP Inc. has a fifty-two week low of $27.01 and a fifty-two week high of $39.52.

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

HP announced that its Board of Directors has approved a share 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 buy up to 28.9% of its stock through open market purchases. Stock repurchase 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.