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

Skandinaviska Enskilda Banken AB publ lifted its stake in HP Inc. (NYSE:HPQ) by 23.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 529,356 shares of the computer maker’s stock after acquiring an additional 100,176 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.05% of HP worth $18,538,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Sawyer & Company Inc grew its stake in shares of HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after acquiring an additional 900 shares during the period. Rise Advisors LLC grew its position in HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after buying an additional 839 shares during the period. Triad Wealth Partners LLC bought a new stake in HP during the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HP during the second quarter valued at approximately $34,000. Finally, DecisionPoint Financial LLC bought a new stake in HP during the second quarter valued at approximately $43,000. 77.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on HPQ shares. Bank of America boosted their target price on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company boosted their target price on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Morgan Stanley lowered their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Finally, Barclays lowered their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, HP currently has an average rating of “Hold” and a consensus price target of $35.55.

HP Stock Performance

HPQ stock 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’s fifty day moving average price is $35.15 and its 200-day moving average price is $33.01. The company has a market capitalization of $34.01 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07.

HP (NYSE:HPQ) last released its earnings results on Wednesday, August 28th. The computer maker reported $0.83 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 during the quarter, compared to analysts’ expectations of $13.37 billion. During the same period last year, the firm posted $0.86 EPS. HP’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts predict that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its board has initiated a share buyback plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were 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 owns 3 shares of the company’s stock, valued at $99.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.41% of the company’s stock.

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.