Swedbank AB Purchases 1,811 Shares of HP Inc. (NYSE:HPQ)

Swedbank AB boosted its position in HP Inc. (NYSE:HPQ) by 0.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 684,510 shares of the computer maker’s stock after purchasing an additional 1,811 shares during the period. Swedbank AB’s holdings in HP were worth $24,553,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of HP in the third quarter worth approximately $25,000. Triad Wealth Partners LLC bought a new stake in shares of HP during the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP in the 2nd quarter worth $34,000. Wolff Wiese Magana LLC raised its holdings in HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in HP during the third quarter valued at $37,000. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HPQ shares. JPMorgan Chase & Co. decreased their price objective on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. UBS Group raised their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Friday, September 27th. Loop Capital lowered their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, Morgan Stanley cut their price target on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.45.

Insider Transactions at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. The trade was a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.41% of the company’s stock.

HP Trading Up 3.1 %

NYSE:HPQ opened at $39.30 on Tuesday. The company has a market capitalization of $37.87 billion, a P/E ratio of 13.79, a P/E/G ratio of 2.62 and a beta of 1.07. The business’s 50-day moving average is $36.47 and its 200 day moving average is $35.46. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, research analysts forecast that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its board has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.