Swedbank AB Increases Position in HP Inc. (NYSE:HPQ)

Swedbank AB raised its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 699,065 shares of the computer maker's stock after purchasing an additional 14,555 shares during the period. Swedbank AB owned 0.07% of HP worth $22,810,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. LVW Advisors LLC grew its stake 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 worth $857,000 after buying an additional 278 shares during the last quarter. Castleview Partners LLC raised its holdings in HP by 8.1% in the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker's stock worth $138,000 after buying an additional 289 shares during the last quarter. Versant Capital Management Inc lifted its position in HP by 5.9% in the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker's stock valued at $191,000 after acquiring an additional 297 shares in the last quarter. King Luther Capital Management Corp raised its stake in shares of HP by 3.2% in the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker's stock worth $346,000 after purchasing an additional 303 shares during the last quarter. Finally, Arvest Investments Inc. lifted its holdings in shares of HP by 0.9% during the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker's stock valued at $1,232,000 after purchasing an additional 310 shares in the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Hsbc Global Res downgraded HP from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 29th. JPMorgan Chase & Co. lowered their price target on shares of HP from $42.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. Sanford C. Bernstein raised their price objective on shares of HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research report on Friday, January 3rd. Barclays lifted their target price on shares of HP from $32.00 to $35.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 27th. Finally, HSBC cut HP from a "buy" rating to a "hold" rating and decreased their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $36.23.

Insider Activity

In other news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 89,272 shares in the company, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $353,427.36. Following the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock valued at $9,670,068 in the last quarter. Insiders own 0.41% of the company's stock.

HP Stock Performance

NYSE HPQ traded up $0.25 during mid-day trading on Friday, reaching $33.05. 326,146 shares of the stock were exchanged, compared to its average volume of 5,813,540. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The company has a market capitalization of $30.99 billion, a P/E ratio of 11.76, a P/E/G ratio of 2.78 and a beta of 1.05. The business's 50 day moving average is $34.03 and its 200-day moving average is $35.18.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting analysts' consensus estimates of $0.93. The firm had revenue of $14.06 billion for 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% compared to the same quarter last year. During the same period last year, the company posted $0.90 EPS. Equities analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.50%. HP's dividend payout ratio is currently 41.28%.

HP 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.