Lansforsakringar Fondforvaltning AB publ Makes New Investment in HP Inc. (NYSE:HPQ)

Lansforsakringar Fondforvaltning AB publ acquired a new stake in HP Inc. (NYSE:HPQ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 319,364 shares of the computer maker's stock, valued at approximately $10,421,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HPQ. Norges Bank purchased a new stake in shares of HP during the fourth quarter worth about $229,320,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of HP during the fourth quarter worth about $65,260,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of HP during the fourth quarter worth about $63,612,000. Northern Trust Corp grew its holdings in shares of HP by 15.8% during the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock worth $419,126,000 after buying an additional 1,755,942 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of HP during the fourth quarter worth about $55,915,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HPQ. UBS Group lowered their price target on shares of HP from $37.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday. Barclays set a $28.00 target price on shares of HP and gave the company an "equal weight" rating in a report on Thursday. TD Cowen lowered their target price on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a report on Thursday. Evercore ISI lowered their target price on shares of HP from $40.00 to $32.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Finally, Bank of America lowered their target price on shares of HP from $35.00 to $33.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $29.54.

Insider Buying and Selling

In related news, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now directly owns 169 shares in the company, valued at $4,814.81. This trade represents a 99.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.38% of the company's stock.

HP Stock Up 0.0%

Shares of HP stock traded up $0.01 during trading hours on Monday, hitting $24.91. The company's stock had a trading volume of 9,582,779 shares, compared to its average volume of 7,831,344. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.80. The business has a fifty day moving average of $25.87 and a 200 day moving average of $30.53. The company has a market capitalization of $23.48 billion, a PE ratio of 8.86, a P/E/G ratio of 2.96 and a beta of 1.32.

HP (NYSE:HPQ - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The firm had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, sell-side analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Wednesday, June 11th. HP's payout ratio is 44.40%.

About HP

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.