E. Ohman J or Asset Management AB Grows Holdings in HP Inc. (NYSE:HPQ)

E. Ohman J or Asset Management AB boosted its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 223.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,400 shares of the computer maker's stock after purchasing an additional 30,000 shares during the period. E. Ohman J or Asset Management AB's holdings in HP were worth $1,202,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in shares of HP by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock worth $825,398,000 after buying an additional 579,525 shares in the last quarter. Northern Trust Corp raised its stake in shares of HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock worth $419,126,000 after acquiring an additional 1,755,942 shares in the last quarter. Invesco Ltd. grew its position in HP by 7.3% during the 4th quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker's stock worth $310,351,000 after purchasing an additional 643,192 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in HP by 8.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker's stock worth $303,105,000 after purchasing an additional 707,742 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of HP in the 4th quarter valued at $229,320,000. Institutional investors own 77.53% of the company's stock.

Insider Activity

In other HP news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now directly owns 169 shares of the company's stock, valued at approximately $4,814.81. The trade was a 99.22% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

HP Stock Performance

HP stock traded up $0.42 during trading hours on Tuesday, reaching $25.54. 9,361,953 shares of the company's stock traded hands, compared to its average volume of 7,871,321. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The firm has a market capitalization of $23.98 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.96 and a beta of 1.30. The firm's 50 day moving average is $25.62 and its 200-day moving average is $30.07.

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

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.53%. HP's payout ratio is presently 44.40%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. TD Cowen reduced their price objective on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Evercore ISI decreased their price target on shares of HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Bank of America dropped their price objective on shares of HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Finally, Morgan Stanley decreased their price objective on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $29.54.

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.