Handelsbanken Fonder AB Buys 2,827 Shares of HP Inc. (NYSE:HPQ)

Handelsbanken Fonder AB lifted its position in HP Inc. (NYSE:HPQ) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,291 shares of the computer maker’s stock after acquiring an additional 2,827 shares during the quarter. Handelsbanken Fonder AB’s holdings in HP were worth $7,974,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sawyer & Company Inc increased its stake in HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after buying an additional 900 shares during the last quarter. Rise Advisors LLC grew its stake in HP by 377.9% in the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares during the period. Triad Wealth Partners LLC purchased a new stake in shares of HP during the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HP during the 2nd quarter worth $34,000. Finally, DecisionPoint Financial LLC bought a new position in HP during the second quarter valued at about $43,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Price Performance

HPQ opened at $35.92 on Tuesday. HP Inc. has a one year low of $25.59 and a one year high of $39.52. The firm has a market capitalization of $35.15 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 2.35 and a beta of 1.07. The company has a fifty day moving average price of $34.80 and a 200-day moving average price of $33.43.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. During the same period in the previous year, the business earned $0.86 EPS. The business’s revenue was up 2.4% on a year-over-year basis. On average, analysts expect that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its board has authorized a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on HPQ shares. Morgan Stanley lowered their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Friday, September 27th. JPMorgan Chase & Co. upped their price target on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. UBS Group boosted their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.55.

Insider Transactions at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by insiders.

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.