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

Forsta AP Fonden grew its position in HP Inc. (NYSE:HPQ) by 37.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 387,400 shares of the computer maker’s stock after purchasing 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 large investors have also added to or reduced their stakes in the stock. LVW Advisors LLC grew its position in HP by 1.2% during the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after buying an additional 278 shares in the last quarter. Castleview Partners LLC grew its position in HP by 8.1% during 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 in the last quarter. Versant Capital Management Inc grew its position in HP by 5.9% during the third quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after buying an additional 297 shares in the last quarter. King Luther Capital Management Corp grew its position in HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after buying an additional 303 shares in the last quarter. Finally, Arvest Investments Inc. grew its position 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 buying an additional 310 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HPQ. 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. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. JPMorgan Chase & Co. reduced their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Barclays raised their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Finally, Sanford C. Bernstein raised their target price on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.23.

HP Stock Performance

Shares of 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 stock has a market capitalization of $30.61 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 2.83 and a beta of 1.05. The stock has a fifty day moving average of $34.22 and a 200-day moving average of $35.22.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. During the same period in the prior year, the company earned $0.90 EPS. HP’s revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were given a dividend of $0.2894 per share. This is a positive change from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.55%. The ex-dividend date was Wednesday, December 11th. HP’s dividend payout ratio (DPR) is currently 41.28%.

Insider Buying and Selling

In related news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock valued at $9,670,068 in the last three months. Insiders own 0.41% of the company’s stock.

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.