Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of HP Inc. (NYSE:HPQ) by 0.4% during the fourth quarter, Holdings Channel reports. The fund owned 98,076 shares of the computer maker’s stock after buying an additional 362 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in HP were worth $1,455,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in HP by 119.5% in the third quarter. Principal Financial Group Inc. now owns 5,152,764 shares of the computer maker’s stock worth $80,022,000 after buying an additional 2,805,123 shares during the last quarter. Wells Fargo & Company MN boosted its stake in HP by 28.8% in the third quarter. Wells Fargo & Company MN now owns 11,681,887 shares of the computer maker’s stock worth $181,420,000 after buying an additional 2,614,757 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in HP during the fourth quarter worth about $36,410,000. Bank of New York Mellon Corp boosted its stake in HP by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 28,494,223 shares of the computer maker’s stock worth $442,517,000 after buying an additional 2,403,888 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in HP during the third quarter worth about $27,441,000. Institutional investors own 78.94% of the company’s stock.
HP Inc. (NYSE:HPQ) traded down 0.82% during trading on Friday, hitting $15.79. The company had a trading volume of 1,699,481 shares. The company has a market capitalization of $26.93 billion, a price-to-earnings ratio of 11.03 and a beta of 1.52. HP Inc. has a 12-month low of $9.95 and a 12-month high of $16.41. The firm has a 50-day moving average of $15.12 and a 200 day moving average of $14.95.
HP (NYSE:HPQ) last released its earnings results on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The company earned $12.50 billion during the quarter, compared to the consensus estimate of $11.89 billion. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 earnings per share. On average, equities research analysts forecast that HP Inc. will post $1.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 8th will be given a dividend of $0.1327 per share. The ex-dividend date is Monday, March 6th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.33%. HP’s payout ratio is currently 37.32%.
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A number of equities research analysts have issued reports on HPQ shares. Jefferies Group LLC cut HP from a “buy” rating to a “hold” rating in a research note on Wednesday, November 23rd. Vetr upgraded HP from a “buy” rating to a “strong-buy” rating and set a $17.76 target price on the stock in a research note on Monday, November 28th. Wells Fargo & Company reiterated an “outperform” rating and issued a $14.50 target price on shares of HP in a research note on Wednesday, November 23rd. Guggenheim started coverage on HP in a research note on Wednesday, January 4th. They issued a “neutral” rating on the stock. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of HP in a research note on Sunday, January 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $15.91.
In related news, insider Kim M. Rivera sold 14,220 shares of the company’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $15.85, for a total value of $225,387.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ron Coughlin sold 113,503 shares of the company’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $15.78, for a total value of $1,791,077.34. Following the completion of the sale, the insider now owns 169,288 shares of the company’s stock, valued at approximately $2,671,364.64. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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