UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $307.82 Million Holdings in HP Inc. (NYSE:HPQ)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HPQ. LVW Advisors LLC raised its stake in HP by 1.2% during the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after buying an additional 278 shares during the period. Castleview Partners LLC raised its position in shares of HP by 8.1% during the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock worth $138,000 after purchasing an additional 289 shares during the period. Versant Capital Management Inc grew its position in shares of HP by 5.9% in the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock valued at $191,000 after purchasing an additional 297 shares during the period. King Luther Capital Management Corp increased its stake in HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after purchasing an additional 303 shares in the last quarter. Finally, Arvest Investments Inc. raised its holdings in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after buying an additional 310 shares during the period. Institutional investors own 77.53% of the company’s stock.

HP Stock Up 2.2 %

NYSE:HPQ opened at $35.43 on Friday. The firm has a market capitalization 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 twelve month low of $27.42 and a twelve month high of $39.79. The stock’s 50 day moving average price is $36.57 and its two-hundred day moving average price is $35.56.

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

HP announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to buy up to 28.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a yield of 3.27%. This is a boost from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio (DPR) is presently 40.93%.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction that occurred 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 in the company, valued at approximately $99.48. The trade was a 100.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective 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. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, September 27th. HSBC lowered HP from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $38.00 in a report on Friday. Morgan Stanley decreased their price objective on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Finally, Loop Capital cut their target price on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.77.

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.