State Board of Administration of Florida Retirement System Trims Stake in HP Inc. (NYSE:HPQ)

State Board of Administration of Florida Retirement System reduced its position in HP Inc. (NYSE:HPQFree Report) by 0.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,136,858 shares of the computer maker’s stock after selling 3,900 shares during the period. State Board of Administration of Florida Retirement System owned 0.12% of HP worth $29,217,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. California Public Employees Retirement System raised its position in shares of HP by 3.9% in the 3rd quarter. California Public Employees Retirement System now owns 2,966,113 shares of the computer maker’s stock valued at $76,229,000 after purchasing an additional 112,427 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in HP by 23.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,204 shares of the computer maker’s stock worth $545,000 after buying an additional 4,054 shares during the last quarter. Wealthfront Advisers LLC raised its position in HP by 8.8% during the 3rd quarter. Wealthfront Advisers LLC now owns 62,575 shares of the computer maker’s stock worth $1,608,000 after buying an additional 5,064 shares during the last quarter. Itau Unibanco Holding S.A. raised its position in HP by 111.9% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 12,103 shares of the computer maker’s stock worth $372,000 after buying an additional 6,391 shares during the last quarter. Finally, Rheos Capital Works Inc. purchased a new position in HP during the 3rd quarter worth approximately $3,855,000. 76.04% of the stock is currently owned by institutional investors.

HP Stock Performance

HP stock opened at $28.42 on Friday. The company’s fifty day moving average price is $29.59 and its 200 day moving average price is $29.05. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90. The stock has a market capitalization of $28.16 billion, a P/E ratio of 8.64, a P/E/G ratio of 2.34 and a beta of 1.04.

HP (NYSE:HPQGet Free Report) last announced its earnings results on Tuesday, November 21st. The computer maker reported $0.90 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.90. HP had a net margin of 6.13% and a negative return on equity of 138.83%. The company had revenue of $13.82 billion for the quarter, compared to analysts’ expectations of $13.79 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. Sell-side analysts predict that HP Inc. will post 3.45 EPS for the current year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th will be issued a dividend of $0.2756 per share. The ex-dividend date is Tuesday, March 12th. This represents a $1.10 annualized dividend and a dividend yield of 3.88%. HP’s dividend payout ratio is presently 33.43%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HPQ shares. Morgan Stanley raised shares of HP from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $31.00 to $35.00 in a research report on Tuesday, December 12th. StockNews.com raised shares of HP from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 19th. Evercore ISI raised shares of HP from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $33.00 to $40.00 in a research report on Monday, December 11th. Edward Jones raised shares of HP from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, Citigroup raised shares of HP from a “neutral” rating to a “buy” rating and lifted their target price for the company from $31.00 to $33.00 in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.22.

View Our Latest Stock Report on HP

Insider Transactions at HP

In other news, CEO Enrique Lores sold 38,000 shares of HP stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $29.75, for a total transaction of $1,130,500.00. Following the transaction, the chief executive officer now owns 888,911 shares in the company, valued at approximately $26,445,102.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Enrique Lores sold 38,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $29.75, for a total value of $1,130,500.00. Following the sale, the chief executive officer now directly owns 888,911 shares in the company, valued at approximately $26,445,102.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alex Cho sold 45,758 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.24, for a total transaction of $1,337,963.92. Following the completion of the sale, the insider now owns 22,003 shares in the company, valued at $643,367.72. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

About HP

(Free Report)

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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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