UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 612,675 Shares of HP Inc. (NYSE:HPQ)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of HP Inc. (NYSE:HPQ) by 7.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,581,422 shares of the computer maker’s stock after acquiring an additional 612,675 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.89% of HP worth $307,816,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HPQ. Primecap Management Co. CA increased its position in shares of HP by 6.2% during the second 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 during the period. Pacer Advisors Inc. boosted its stake in HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after buying an additional 1,455,138 shares in the last quarter. Legal & General Group Plc increased its holdings in 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 buying an additional 1,089,848 shares during the period. Bank of New York Mellon Corp raised its stake 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 buying an additional 287,861 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of HP by 11.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker’s stock worth $241,876,000 after acquiring an additional 678,985 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’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 of the company’s stock, valued at approximately $99.48. The trade was a 100.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HPQ shares. JPMorgan Chase & Co. dropped their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. UBS Group increased 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. HSBC cut HP from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $38.00 in a research report on Friday. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Friday, September 27th. Finally, Barclays upped their target price on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.77.

HP Stock Up 2.2 %

Shares of NYSE HPQ opened at $35.43 on Friday. The company has a market cap of $34.14 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 2.40 and a beta of 1.07. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The firm’s 50-day simple moving average is $36.57 and its 200 day simple moving average is $35.56.

HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 earnings per share. On average, equities analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP announced that its board has authorized a share buyback program on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

HP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.2894 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.27%. This is an increase from HP’s previous quarterly dividend of $0.28. HP’s payout ratio is presently 40.93%.

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.