New York State Common Retirement Fund Sells 83,229 Shares of HP Inc. (NYSE:HPQ)

New York State Common Retirement Fund reduced its position in HP Inc. (NYSE:HPQ) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 858,657 shares of the computer maker’s stock after selling 83,229 shares during the quarter. New York State Common Retirement Fund’s holdings in HP were worth $25,837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Whittier Trust Co. raised its holdings in HP by 1.4% in the fourth quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock worth $778,000 after purchasing an additional 362 shares in the last quarter. Salem Investment Counselors Inc. raised its holdings in HP by 47.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after purchasing an additional 380 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in HP by 18.8% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker’s stock worth $73,000 after purchasing an additional 382 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in HP by 84.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after purchasing an additional 397 shares in the last quarter. Finally, PDS Planning Inc raised its holdings in HP by 4.8% in the third quarter. PDS Planning Inc now owns 8,879 shares of the computer maker’s stock worth $228,000 after purchasing an additional 404 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Insider Activity at HP

In related news, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the sale, the insider now owns 56,169 shares in the company, valued at $1,642,381.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The disclosure for this sale can be found here. Insiders have sold a total of 116,723 shares of company stock worth $3,479,287 over the last quarter. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the subject of a number of recent research reports. Barclays boosted their target price on shares of HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. StockNews.com lowered HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Finally, HSBC upgraded HP from a “hold” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $33.00 in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, HP presently has a consensus rating of “Moderate Buy” and an average price target of $33.11.

HP Stock Down 0.5 %

Shares of NYSE HPQ opened at $28.00 on Friday. The business’s 50 day moving average price is $29.27 and its 200 day moving average price is $28.85. The firm has a market cap of $27.46 billion, a P/E ratio of 8.19, a P/E/G ratio of 2.35 and a beta of 1.05. HP Inc. has a 52 week low of $25.22 and a 52 week high of $33.90.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. The firm had revenue of $13.19 billion for the quarter, compared to analyst estimates of $13.56 billion. HP had a negative return on equity of 181.02% and a net margin of 6.45%. HP’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. As a group, research analysts expect that HP Inc. will post 3.42 earnings per share for the current year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a $0.2756 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.10 dividend on an annualized basis and a yield of 3.94%. HP’s dividend payout ratio is currently 32.16%.

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.