HP Inc. (NYSE:HPQ) Position Increased by California Public Employees Retirement System

California Public Employees Retirement System raised its position in HP Inc. (NYSE:HPQ) by 69.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,030,982 shares of the computer maker’s stock after purchasing an additional 2,064,869 shares during the quarter. California Public Employees Retirement System owned approximately 0.51% of HP worth $151,382,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HPQ. Vanguard Group Inc. lifted its position in shares of HP by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock worth $3,019,999,000 after purchasing an additional 12,883,347 shares during the last quarter. Pacer Advisors Inc. boosted its stake in HP by 4,180.9% in the fourth quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock worth $286,352,000 after purchasing an additional 9,294,209 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of HP by 145.9% during the third quarter. Qube Research & Technologies Ltd now owns 6,090,872 shares of the computer maker’s stock worth $156,535,000 after purchasing an additional 3,613,742 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of HP by 104.6% during the third quarter. Hsbc Holdings PLC now owns 4,352,558 shares of the computer maker’s stock worth $112,014,000 after purchasing an additional 2,225,530 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of HP in the third quarter valued at about $54,302,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Trading Down 0.1 %

HP stock opened at $27.68 on Wednesday. HP Inc. has a 1-year low of $25.22 and a 1-year high of $33.90. The firm has a market capitalization of $27.15 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 2.32 and a beta of 1.05. The firm’s fifty day moving average price is $29.31 and its two-hundred day moving average price is $28.84.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The company had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $13.56 billion. During the same period last year, the business posted $0.75 earnings per share. HP’s revenue was down 4.4% on a year-over-year basis. On average, research analysts forecast that HP Inc. will post 3.42 EPS for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $0.2756 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.10 annualized dividend and a dividend yield of 3.98%. HP’s payout ratio is currently 32.16%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. HSBC raised shares of HP from a “hold” rating to a “buy” rating and raised their target price for the company from $30.00 to $33.00 in a research note on Wednesday, February 14th. Finally, Barclays lifted their price objective on HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.11.

Insider Buying and Selling

In related news, insider Stephanie Liebman sold 8,708 shares of the firm’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 sale was disclosed in a filing with the SEC, which is available through this link. In other HP news, insider Stephanie Liebman sold 8,708 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.93, for a total transaction of $269,338.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the completion of the sale, the director now directly owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,723 shares of company stock worth $3,479,287. Corporate 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.