Livforsakringsbolaget Skandia Omsesidigt Sells 1,000 Shares of HP Inc. (NYSE:HPQ)

Livforsakringsbolaget Skandia Omsesidigt lessened its holdings in HP Inc. (NYSE:HPQ) by 27.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,644 shares of the computer maker’s stock after selling 1,000 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in HP were worth $93,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in HP by 2.6% in the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after acquiring an additional 3,062,441 shares during the last quarter. LSV Asset Management boosted its position in shares of HP by 3.3% in the 1st quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock worth $383,028,000 after purchasing an additional 403,355 shares during the last quarter. Northern Trust Corp grew its stake in shares of HP by 0.4% during the fourth quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock worth $306,089,000 after purchasing an additional 40,884 shares during the period. Norges Bank bought a new stake in HP in the fourth quarter valued at about $187,264,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in HP by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,771,103 shares of the computer maker’s stock valued at $173,652,000 after buying an additional 232,515 shares during the period. Institutional investors own 77.53% of the company’s stock.

HP Trading Up 1.5 %

Shares of NYSE:HPQ traded up $0.51 during trading on Monday, hitting $34.05. 1,616,300 shares of the company were exchanged, compared to its average volume of 7,867,817. The stock has a market cap of $33.32 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 2.24 and a beta of 1.09. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52. The firm has a fifty day moving average price of $35.76 and a two-hundred day moving average price of $31.81.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. As a group, research analysts predict that HP Inc. will post 3.45 EPS for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be paid a $0.2756 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a yield of 3.24%. HP’s dividend payout ratio (DPR) is currently 37.16%.

Insiders Place Their Bets

In related news, insider Alex Cho sold 173,137 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at approximately $2,335,450.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HPQ. JPMorgan Chase & Co. upped their price target on HP from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. TD Cowen increased their target price on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. UBS Group boosted their price target on shares of HP from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Bank of America lifted their target price on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, Morgan Stanley lifted their price target on shares of HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.64.

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.