Sumitomo Mitsui DS Asset Management Company Ltd Buys 49,568 Shares of HP Inc. $HPQ

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in HP Inc. by 44.8% during Q2, owning 160,295 shares valued at approximately $3.92 million.
• HP Inc. has received mixed evaluations from analysts, with a consensus rating of "Hold" and an average target price of $29.38.
• The company's latest quarterly earnings report showed revenue growth of 3.1% year-over-year, with earnings per share meeting consensus estimates at $0.75.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in HP Inc. (NYSE:HPQ - Free Report) by 44.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,295 shares of the computer maker's stock after buying an additional 49,568 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in HP were worth $3,921,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of HPQ. WPG Advisers LLC acquired a new position in HP in the first quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of HP during the first quarter valued at $35,000. Iron Horse Wealth Management LLC acquired a new position in shares of HP during the first quarter valued at $39,000. Financial Freedom LLC lifted its stake in shares of HP by 141.4% during the first quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock valued at $42,000 after acquiring an additional 878 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in shares of HP by 165.3% during the first quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock valued at $42,000 after acquiring an additional 947 shares during the period. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Stock Up 0.8%

Shares of NYSE:HPQ traded up $0.22 during mid-day trading on Tuesday, reaching $28.48. 3,422,119 shares of the stock were exchanged, compared to its average volume of 8,419,215. The company has a market cap of $26.62 billion, a P/E ratio of 10.40, a P/E/G ratio of 2.27 and a beta of 1.29. HP Inc. has a one year low of $21.21 and a one year high of $39.79. The stock's 50 day simple moving average is $26.81 and its 200-day simple moving average is $26.27.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The computer maker reported $0.75 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.75. The business had revenue of $13.93 billion during the quarter, compared to the consensus estimate of $13.69 billion. HP had a negative return on equity of 262.03% and a net margin of 4.83%.HP's quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the company earned $0.83 earnings per share. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. Analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HPQ shares. UBS Group upped their price target on HP from $26.00 to $29.00 and gave the company a "neutral" rating in a research note on Thursday, August 28th. Zacks Research raised HP from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Barclays cut their price target on HP from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 28th. Bank of America cut their price target on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Finally, Sanford C. Bernstein initiated coverage on HP in a research note on Monday, September 15th. They set a "market perform" rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.38.

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.