Forsta AP Fonden Sells 54,900 Shares of HP Inc. (NYSE:HPQ)

Forsta AP Fonden decreased its stake in shares of HP Inc. (NYSE:HPQGet Rating) by 13.4% during the first quarter, HoldingsChannel reports. The firm owned 356,200 shares of the computer maker’s stock after selling 54,900 shares during the quarter. Forsta AP Fonden’s holdings in HP were worth $12,930,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in HP during the fourth quarter worth about $454,451,000. Los Angeles Capital Management LLC boosted its stake in HP by 41.6% during the first quarter. Los Angeles Capital Management LLC now owns 7,016,972 shares of the computer maker’s stock worth $254,716,000 after acquiring an additional 2,061,479 shares in the last quarter. Pacer Advisors Inc. raised its holdings in HP by 183.9% in the first quarter. Pacer Advisors Inc. now owns 2,133,518 shares of the computer maker’s stock worth $77,447,000 after buying an additional 1,381,919 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in HP by 196.2% in the fourth quarter. Panagora Asset Management Inc. now owns 1,356,183 shares of the computer maker’s stock worth $51,087,000 after buying an additional 898,327 shares during the last quarter. Finally, Miller Howard Investments Inc. NY purchased a new position in HP in the first quarter worth about $29,495,000. Institutional investors own 81.94% of the company’s stock.

Insiders Place Their Bets

In other HP news, CFO Marie Myers sold 4,500 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $147,015.00. Following the transaction, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $588,060. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Marie Myers sold 4,500 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.67, for a total value of $147,015.00. Following the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $588,060. 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 34,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $1,110,780.00. Following the completion of the sale, the chief executive officer now owns 551,204 shares in the company, valued at $18,007,834.68. The disclosure for this sale can be found here. Insiders have sold a total of 53,719 shares of company stock worth $1,828,345 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on HPQ. StockNews.com cut shares of HP from a “buy” rating to a “hold” rating in a report on Friday. Barclays lifted their target price on shares of HP from $29.00 to $32.00 and gave the stock an “underweight” rating in a report on Wednesday, June 1st. Citigroup boosted their price objective on shares of HP from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, June 1st. UBS Group cut shares of HP from a “buy” rating to a “neutral” rating and set a $40.00 price objective for the company. in a report on Friday, April 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of HP from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, July 14th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.69.

HP Trading Up 1.0 %

Shares of HPQ opened at $33.58 on Friday. The company has a market cap of $34.73 billion, a P/E ratio of 6.04, a P/E/G ratio of 1.93 and a beta of 0.92. HP Inc. has a twelve month low of $26.11 and a twelve month high of $41.47. The company’s fifty day simple moving average is $34.03 and its 200-day simple moving average is $35.85.

HP (NYSE:HPQGet Rating) last posted its quarterly earnings results on Tuesday, May 31st. The computer maker reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. The company had revenue of $16.49 billion for the quarter, compared to the consensus estimate of $16.19 billion. HP had a net margin of 9.61% and a negative return on equity of 188.59%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 EPS. Analysts predict that HP Inc. will post 4.3 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Tuesday, September 13th. HP’s payout ratio is 17.99%.

HP Company Profile

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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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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