BI Asset Management Fondsmaeglerselskab A S Has $1.10 Million Stock Position in HP Inc. (NYSE:HPQ)

BI Asset Management Fondsmaeglerselskab A S raised its position in HP Inc. (NYSE:HPQ) by 24.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 36,447 shares of the computer maker’s stock after acquiring an additional 7,239 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in HP were worth $1,101,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. lifted its stake in HP by 1.4% during the fourth quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock worth $778,000 after purchasing an additional 362 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in HP by 47.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after buying an additional 380 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in HP by 18.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker’s stock valued at $73,000 after acquiring an additional 382 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after acquiring an additional 397 shares during the last quarter. Finally, Gables Capital Management Inc. raised its stake in shares of HP by 7.9% during the fourth quarter. Gables Capital Management Inc. now owns 5,450 shares of the computer maker’s stock worth $164,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Price Performance

HP stock traded up $0.20 during mid-day trading on Wednesday, reaching $35.62. 1,220,341 shares of the company traded hands, compared to its average volume of 8,107,544. HP Inc. has a 52-week low of $25.22 and a 52-week high of $39.52. The firm has a market capitalization of $34.86 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 2.25 and a beta of 1.09. The firm’s 50 day moving average price is $33.69 and its 200 day moving average price is $30.84.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter last year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that HP Inc. will post 3.45 EPS for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a $0.2756 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 annualized dividend and a yield of 3.09%. HP’s payout ratio is presently 37.16%.

Insider Activity

In related news, insider Alex Cho sold 173,137 shares of HP stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HPQ shares. JPMorgan Chase & Co. increased their target price on shares of HP from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Bank of America boosted their target price on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. UBS Group raised their price target on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. TD Cowen boosted their price objective on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Finally, Barclays raised their target price on shares of HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.64.

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.