Avanza Fonder AB Takes $3.29 Million Position in HP Inc. (NYSE:HPQ)

Avanza Fonder AB acquired a new position in HP Inc. (NYSE:HPQ - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 100,770 shares of the computer maker's stock, valued at approximately $3,288,000.

Other large investors also recently modified their holdings of the company. LVW Advisors LLC grew its position in shares of HP by 1.2% in the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker's stock valued at $857,000 after acquiring an additional 278 shares during the period. Castleview Partners LLC increased its stake in HP by 8.1% during the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker's stock worth $138,000 after acquiring an additional 289 shares during the period. Versant Capital Management Inc raised its stake in HP by 5.9% in the third 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 in the last quarter. King Luther Capital Management Corp lifted its holdings in shares of 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 acquiring an additional 303 shares during the period. Finally, Arvest Investments Inc. lifted its stake in HP by 0.9% during the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker's stock worth $1,232,000 after purchasing an additional 310 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. TD Cowen upped their price objective on HP from $32.00 to $39.00 and gave the company a "hold" rating in a research note on Wednesday, November 27th. Bank of America lowered shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price target on the stock. in a report on Friday, September 27th. HSBC downgraded HP from a "buy" rating to a "hold" rating and decreased their price objective for the company from $39.00 to $38.00 in a report on Friday, November 29th. Citigroup reduced their price target on HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. Finally, Barclays raised their price objective on HP from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, HP currently has an average rating of "Hold" and a consensus target price of $36.23.

HP Stock Performance

Shares of HPQ stock traded up $0.18 during trading hours on Friday, hitting $32.53. 8,455,648 shares of the company were exchanged, compared to its average volume of 5,433,404. The firm has a market cap of $30.51 billion, a P/E ratio of 11.58, a P/E/G ratio of 2.83 and a beta of 1.05. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The company has a 50 day simple moving average of $34.78 and a two-hundred day simple moving average of $35.34.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The business's quarterly revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were given a $0.2894 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 annualized dividend and a yield of 3.56%. This is an increase from HP's previous quarterly dividend of $0.28. HP's dividend payout ratio (DPR) is presently 41.28%.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 10,298 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 64,676 shares of the company's stock, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the sale, the chief executive officer now directly owns 89,272 shares of the company's stock, valued at approximately $3,253,964.40. This trade represents a 60.56 % 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.