Handelsbanken Fonder AB Has $9.11 Million Stock Holdings in HP Inc. (NYSE:HPQ)

Handelsbanken Fonder AB increased its holdings in shares of HP Inc. (NYSE:HPQ) by 25.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 279,165 shares of the computer maker’s stock after buying an additional 56,874 shares during the period. Handelsbanken Fonder AB’s holdings in HP were worth $9,109,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in HP by 16.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after buying an additional 160,268 shares during the period. Oak Thistle LLC raised its holdings in HP by 169.3% during the 4th quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock worth $1,132,000 after purchasing an additional 21,805 shares during the last quarter. Tidal Investments LLC raised its holdings in HP by 47.5% during the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock worth $5,259,000 after purchasing an additional 47,230 shares during the last quarter. MML Investors Services LLC raised its holdings in HP by 35.0% during the 3rd quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock worth $2,243,000 after purchasing an additional 16,207 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in HP by 4.3% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker’s stock worth $14,581,000 after purchasing an additional 18,557 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Trading Down 0.3 %

Shares of HPQ stock opened at $34.63 on Friday. The firm has a market capitalization of $32.48 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. The firm has a fifty day simple moving average of $33.10 and a two-hundred day simple moving average of $34.84. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $14.06 billion during 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 quarter in the previous year, the business posted $0.90 EPS. On average, equities analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 3.34%. HP’s dividend payout ratio (DPR) is presently 40.93%.

Analysts Set New Price Targets

HPQ has been the subject of several analyst reports. Citigroup lowered their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and lowered their price target for the stock from $39.00 to $38.00 in a report on Friday, November 29th. TD Cowen raised their price target on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Sanford C. Bernstein lifted their price objective on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $36.68.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction on Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the transaction, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is owned by corporate insiders.

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.