E. Ohman J or Asset Management AB Acquires 30,000 Shares of HP Inc. (NYSE:HPQ)

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

Other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new position in shares of HP in the 4th quarter worth approximately $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of HP in the 4th quarter worth approximately $36,000. OFI Invest Asset Management acquired a new position in shares of HP in the 4th quarter worth approximately $37,000. CoreCap Advisors LLC lifted its position in shares of HP by 71.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock worth $46,000 after purchasing an additional 587 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of HP during the 4th quarter valued at $50,000. 77.53% of the stock is owned by institutional investors.

HP Stock Up 1.9%

Shares of NYSE:HPQ opened at $25.18 on Friday. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80. The firm has a market capitalization of $23.65 billion, a PE ratio of 8.96, a P/E/G ratio of 2.96 and a beta of 1.30. The company has a 50-day moving average price of $25.64 and a two-hundred day moving average price of $30.29.

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

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Wednesday, June 11th. HP's dividend payout ratio is currently 44.40%.

Insider Activity at HP

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HPQ. JPMorgan Chase & Co. dropped their target price on shares of HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. Bank of America lowered their price objective on shares of HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. UBS Group lowered their price objective on shares of HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Wells Fargo & Company lowered their price objective on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a report on Thursday, May 29th. Finally, Citigroup lowered their price objective on shares of HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.54.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.