Forsta AP Fonden Has $12.64 Million Stake in HP Inc. (NYSE:HPQ)

Forsta AP Fonden raised its holdings in HP Inc. (NYSE:HPQ) by 37.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 387,400 shares of the computer maker’s stock after acquiring an additional 105,200 shares during the period. Forsta AP Fonden’s holdings in HP were worth $12,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HPQ. Public Sector Pension Investment Board grew its stake in HP by 78.9% in the second quarter. Public Sector Pension Investment Board now owns 17,978 shares of the computer maker’s stock valued at $630,000 after acquiring an additional 7,931 shares during the period. Marshall Wace LLP acquired a new position in HP in the second quarter valued at about $269,000. The Manufacturers Life Insurance Company grew its stake in HP by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 724,295 shares of the computer maker’s stock valued at $25,365,000 after acquiring an additional 19,342 shares during the period. Creative Planning grew its stake in HP by 6.3% in the second quarter. Creative Planning now owns 213,889 shares of the computer maker’s stock valued at $7,490,000 after acquiring an additional 12,745 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of HP by 9.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,516 shares of the computer maker’s stock valued at $1,454,000 after purchasing an additional 3,722 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at HP

In other news, insider Alex Cho sold 10,298 shares of the company’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 transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock worth $9,670,068 over the last 90 days. Company insiders own 0.41% of the company’s stock.

HP Stock Performance

HPQ opened at $32.64 on Thursday. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The firm has a market capitalization of $30.61 billion, a PE ratio of 11.61, a PEG ratio of 2.83 and a beta of 1.05. The business’s 50-day simple moving average is $34.22 and its 200 day simple moving average is $35.22.

HP (NYSE:HPQ) last released its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 negative return on equity of 253.39% and a net margin of 5.18%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. On average, research analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were paid a $0.2894 dividend. This is a positive change from HP’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.16 annualized dividend and a yield of 3.55%. HP’s dividend payout ratio is currently 41.28%.

Analyst Ratings Changes

A number of analysts have recently commented on HPQ shares. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. TD Cowen boosted their price target on HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Citigroup cut their price target on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. cut their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Barclays boosted their price target on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.23.

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.