HP Inc. (NYSE:HPQ) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its stake in shares of HP Inc. (NYSE:HPQ) by 21.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton grew its position in HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after buying an additional 397 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in HP during the fourth quarter worth about $28,000. Janiczek Wealth Management LLC grew its position in HP by 116.7% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after buying an additional 566 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in HP during the fourth quarter worth about $34,000. Finally, Salem Investment Counselors Inc. grew its position in HP by 47.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after buying an additional 380 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Performance

Shares of HPQ opened at $27.68 on Wednesday. The company has a market capitalization of $27.15 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 2.32 and a beta of 1.05. The company’s 50 day simple moving average is $29.31 and its 200 day simple moving average is $28.84. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90.

HP (NYSE:HPQ) last announced its quarterly earnings data 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 business had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Equities analysts expect that HP Inc. will post 3.42 EPS for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Tuesday, March 12th. HP’s dividend payout ratio is currently 32.16%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and upped their target price for the stock from $30.00 to $33.00 in a research report on Wednesday, February 14th. StockNews.com lowered 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 target on shares of HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. One equities research 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. According to data from MarketBeat.com, HP currently has an average rating of “Moderate Buy” and an average target price of $33.11.

Insiders Place Their Bets

In other HP news, Director Robert R. Bennett sold 67,000 shares of the 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 $1,807,082.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other HP news, insider Stephanie Liebman sold 8,708 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total transaction of $269,338.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert R. Bennett sold 67,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the transaction, the director now directly owns 60,216 shares in the company, valued at approximately $1,807,082.16. The disclosure for this sale can be found here. Insiders have sold a total of 116,723 shares of company stock valued at $3,479,287 over the last quarter. Company insiders own 0.41% of the company’s stock.

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.