HP Inc. (NYSE:HPQ) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its stake in shares of HP Inc. (NYSE:HPQ) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,150 shares of the computer maker’s stock after selling 1,640 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in HP were worth $2,552,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in HP during the 3rd quarter worth approximately $25,000. Wolff Wiese Magana LLC increased its position in shares of HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of HP during the third quarter worth approximately $37,000. Itau Unibanco Holding S.A. acquired a new position in HP in the 3rd quarter valued at $40,000. Finally, DecisionPoint Financial LLC purchased a new position in HP in the 2nd quarter valued at $43,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HPQ has been the subject of a number of recent research reports. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Friday, September 27th. Morgan Stanley dropped their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. UBS Group raised their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, HSBC cut HP from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HP has an average rating of “Hold” and a consensus target price of $36.45.

HP Stock Down 1.2 %

HPQ stock opened at $34.55 on Monday. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The business has a fifty day moving average of $36.59 and a two-hundred day moving average of $35.85. The stock has a market cap of $33.30 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. As a group, sell-side analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.35%. This is a boost from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio (DPR) is presently 40.93%.

HP announced that its board has authorized a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at HP

In other HP news, insider Alex Cho sold 40,287 shares of HP stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,250,724.80. The trade was a 38.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Enrique Lores sold 137,094 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the sale, the chief executive officer now directly owns 89,272 shares in the company, valued at $3,253,964.40. This represents a 60.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 187,679 shares of company stock worth $6,752,491. Insiders own 0.41% of the company’s stock.

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.