HP Inc. (NYSE:HPQ) Stake Lessened by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lowered its holdings in HP Inc. (NYSE:HPQGet Rating) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,161 shares of the computer maker’s stock after selling 3,197 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in HP were worth $2,431,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of HP by 0.6% in the first quarter. BlackRock Inc. now owns 101,201,027 shares of the computer maker’s stock valued at $3,673,596,000 after purchasing an additional 573,468 shares in the last quarter. State Street Corp lifted its holdings in shares of HP by 1.7% in the first quarter. State Street Corp now owns 57,873,437 shares of the computer maker’s stock valued at $2,115,148,000 after purchasing an additional 980,653 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of HP by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 13,405,197 shares of the computer maker’s stock valued at $486,668,000 after purchasing an additional 59,904 shares in the last quarter. Norges Bank purchased a new stake in shares of HP in the fourth quarter valued at $454,451,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of HP by 41.6% during the first quarter. Los Angeles Capital Management LLC now owns 7,016,972 shares of the computer maker’s stock worth $254,716,000 after acquiring an additional 2,061,479 shares in the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Insider Activity

In other news, CEO Enrique Lores sold 34,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $32.67, for a total value of $1,110,780.00. Following the sale, the chief executive officer now directly owns 551,204 shares of the company’s stock, valued at $18,007,834.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Marie Myers sold 4,500 shares of HP stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $33.05, for a total transaction of $148,725.00. Following the sale, the chief financial officer now directly owns 13,500 shares of the company’s stock, valued at $446,175. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $32.67, for a total value of $1,110,780.00. Following the sale, the chief executive officer now directly owns 551,204 shares in the company, valued at $18,007,834.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,000 shares of company stock valued at $1,406,520. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HPQ shares. Credit Suisse Group cut their price objective on HP from $39.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, August 31st. UBS Group cut their price objective on HP from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, August 31st. Cowen cut their price objective on HP from $38.00 to $30.00 and set a “market perform” rating for the company in a report on Wednesday, August 31st. Deutsche Bank Aktiengesellschaft cut their price objective on HP from $36.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, August 31st. Finally, Evercore ISI cut their price objective on HP to $33.00 in a report on Tuesday, September 6th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.79.

HP Stock Performance

Shares of NYSE:HPQ opened at $25.71 on Friday. The company has a market cap of $25.86 billion, a P/E ratio of 4.49, a P/E/G ratio of 2.37 and a beta of 0.96. The stock’s 50-day moving average is $31.18 and its 200-day moving average is $34.46. HP Inc. has a 52-week low of $25.69 and a 52-week high of $41.47.

HP (NYSE:HPQGet Rating) last issued its quarterly earnings results on Tuesday, August 30th. The computer maker reported $1.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.04. The company had revenue of $14.66 billion for the quarter, compared to the consensus estimate of $15.63 billion. HP had a negative return on equity of 220.16% and a net margin of 9.72%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $1.00 earnings per share. As a group, equities analysts predict that HP Inc. will post 4.08 EPS for the current year.

HP Company Profile

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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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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