Skandinaviska Enskilda Banken AB publ Purchases 100,176 Shares of HP Inc. (NYSE:HPQ)

Skandinaviska Enskilda Banken AB publ raised its position in shares of HP Inc. (NYSE:HPQ) by 23.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 529,356 shares of the computer maker’s stock after acquiring an additional 100,176 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in HP were worth $18,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in HP by 2.6% during 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. Primecap Management Co. CA increased its position in HP by 6.2% during the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock valued at $786,237,000 after acquiring an additional 1,319,731 shares during the last quarter. LSV Asset Management increased its position in HP by 3.3% during the first quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock valued at $383,028,000 after acquiring an additional 403,355 shares during the last quarter. Northern Trust Corp grew its holdings in shares of HP by 0.4% in 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 last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of HP by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock worth $294,253,000 after purchasing an additional 287,861 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HPQ shares. Wells Fargo & Company upped their price target on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Bank of America upped their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. upped their price target on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, TD Cowen upped their price target on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.55.

HP Stock Performance

NYSE HPQ opened at $34.76 on Friday. HP Inc. has a one year low of $25.22 and a one year high of $39.52. The company has a market capitalization of $34.01 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07. The company’s 50-day simple moving average is $35.15 and its two-hundred day simple moving average is $33.01.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share 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 during the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts expect that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has approved a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

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.