Handelsbanken Fonder AB Acquires 82,628 Shares of HP Inc. (NYSE:HPQ)

Handelsbanken Fonder AB raised its holdings in HP Inc. (NYSE:HPQ) by 21.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 467,989 shares of the computer maker’s stock after buying an additional 82,628 shares during the quarter. Handelsbanken Fonder AB’s holdings in HP were worth $14,082,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Rosenberg Matthew Hamilton increased its position in shares of HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after purchasing an additional 397 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of HP during the 4th quarter worth about $28,000. Janiczek Wealth Management LLC increased its position in shares of HP by 116.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after purchasing an additional 566 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of HP during the 4th quarter worth about $34,000. Finally, Salem Investment Counselors Inc. increased its position in shares of HP by 47.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after purchasing an additional 380 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Activity

In other news, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the transaction, the director now owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the transaction, the insider now directly owns 56,169 shares in the company, valued at approximately $1,642,381.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,723 shares of company stock valued at $3,479,287. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

HPQ has been the subject of a number of recent analyst reports. HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and increased their target price for the stock from $30.00 to $33.00 in a research report on Wednesday, February 14th. StockNews.com cut shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, Barclays increased their price objective on shares of HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.11.

HP Stock Down 0.1 %

Shares of NYSE:HPQ opened at $27.68 on Wednesday. The firm has a market cap of $27.15 billion, a P/E ratio of 8.09, a P/E/G ratio of 2.32 and a beta of 1.05. HP Inc. has a 12 month low of $25.22 and a 12 month high of $33.90. The company’s 50-day moving average price is $29.31 and its two-hundred day moving average price is $28.84.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. The company had revenue of $13.19 billion for the quarter, compared to analyst estimates of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 EPS. As a group, equities analysts predict that HP Inc. will post 3.42 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a $0.2756 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Tuesday, March 12th. HP’s dividend payout ratio (DPR) is presently 32.16%.

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.