Forsta AP Fonden Has $9.44 Million Holdings in HP Inc. (NYSE:HPQ)

Forsta AP Fonden decreased its position in shares of HP Inc. (NYSE:HPQ) by 9.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 269,600 shares of the computer maker’s stock after selling 29,500 shares during the period. Forsta AP Fonden’s holdings in HP were worth $9,441,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Sawyer & Company Inc increased its holdings in HP by 900.0% during the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after purchasing an additional 900 shares in the last quarter. Rise Advisors LLC grew its holdings in shares of HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in shares of HP during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of HP in the second quarter valued at about $34,000. Finally, Hantz Financial Services Inc. acquired a new position in HP during the 2nd quarter worth about $48,000. Institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HPQ shares. Morgan Stanley lowered their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Loop Capital lowered their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company upped their price objective on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Bank of America increased their price objective on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Citigroup upped their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.55.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the completion of the transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related 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 value of $7,013,373.16. Following the completion of the transaction, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the sale, the insider now owns 64,676 shares in the company, valued at $2,335,450.36. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

HP Trading Up 0.7 %

NYSE HPQ opened at $33.32 on Friday. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52. The stock has a 50-day simple moving average of $35.29 and a 200 day simple moving average of $32.82. The company has a market capitalization of $32.11 billion, a PE ratio of 11.26, a P/E/G ratio of 2.23 and a beta of 1.07.

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

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

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.