State Treasurer State of Michigan Sells 14,400 Shares of HP Inc. (HPQ)

State Treasurer State of Michigan lowered its position in HP Inc. (NYSE:HPQ) by 3.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471,525 shares of the computer maker’s stock after selling 14,400 shares during the quarter. State Treasurer State of Michigan’s holdings in HP were worth $12,151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Boston Partners grew its stake in HP by 7.3% in the second quarter. Boston Partners now owns 38,822,978 shares of the computer maker’s stock valued at $880,893,000 after purchasing an additional 2,637,787 shares in the last quarter. Northern Trust Corp grew its stake in HP by 0.7% in the second quarter. Northern Trust Corp now owns 21,440,019 shares of the computer maker’s stock valued at $486,474,000 after purchasing an additional 141,712 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in HP by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,327,977 shares of the computer maker’s stock valued at $325,104,000 after purchasing an additional 52,104 shares in the last quarter. LSV Asset Management grew its stake in HP by 2.4% in the second quarter. LSV Asset Management now owns 13,987,387 shares of the computer maker’s stock valued at $317,373,000 after purchasing an additional 330,253 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in HP by 17.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 8,197,267 shares of the computer maker’s stock valued at $185,996,000 after purchasing an additional 1,207,545 shares in the last quarter. Hedge funds and other institutional investors own 80.42% of the company’s stock.

In related news, COO Catherine A. Lesjak sold 693,594 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $25.78, for a total transaction of $17,880,853.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by insiders.



NYSE HPQ opened at $23.13 on Friday. HP Inc. has a twelve month low of $19.31 and a twelve month high of $27.08. The stock has a market cap of $36.60 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.60 and a beta of 1.64.

HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, August 23rd. The computer maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. HP had a negative return on equity of 130.47% and a net margin of 7.95%. The business had revenue of $14.59 billion during the quarter, compared to analysts’ expectations of $14.29 billion. During the same quarter in the previous year, the firm earned $0.43 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Analysts forecast that HP Inc. will post 2.02 earnings per share for the current fiscal year.

Several analysts have recently issued reports on HPQ shares. Zacks Investment Research downgraded HP from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. Argus reiterated a “buy” rating on shares of HP in a research note on Monday, October 8th. JPMorgan Chase & Co. downgraded HP from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $28.00 to $29.00 in a research note on Friday, October 5th. Susquehanna Bancshares set a $25.00 price target on HP and gave the stock a “hold” rating in a research note on Thursday, October 4th. Finally, Bank of America upped their price target on HP from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, October 4th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $27.44.

HP 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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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