California Public Employees Retirement System reduced its position in HP Inc. (NYSE:HPQ) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,964,347 shares of the computer maker’s stock after selling 161,422 shares during the quarter. California Public Employees Retirement System owned approximately 0.25% of HP worth $89,494,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of HP by 2.9% in the 2nd quarter. BlackRock Inc. now owns 109,024,707 shares of the computer maker’s stock valued at $3,291,454,000 after purchasing an additional 3,102,708 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in HP by 16.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 16,801,457 shares of the computer maker’s stock worth $533,446,000 after acquiring an additional 2,366,800 shares in the last quarter. Janus Henderson Group PLC boosted its stake in HP by 10.5% during the first quarter. Janus Henderson Group PLC now owns 12,931,568 shares of the computer maker’s stock worth $410,594,000 after acquiring an additional 1,233,577 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in HP by 0.8% during the first quarter. Ameriprise Financial Inc. now owns 10,979,877 shares of the computer maker’s stock worth $348,654,000 after acquiring an additional 83,768 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in HP by 6.2% during the second quarter. Legal & General Group Plc now owns 10,628,696 shares of the computer maker’s stock worth $320,880,000 after acquiring an additional 620,840 shares in the last quarter. 77.22% of the stock is currently owned by institutional investors.
In other news, CEO Enrique Lores sold 34,000 shares of the stock in a transaction dated Friday, October 1st. The shares were sold at an average price of $27.53, for a total value of $936,020.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company’s stock.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 25th. The computer maker reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.16. The company had revenue of $15.29 billion during the quarter, compared to the consensus estimate of $15.92 billion. HP had a net margin of 6.56% and a negative return on equity of 137.22%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. On average, equities research analysts predict that HP Inc. will post 3.73 earnings per share for the current year.
HPQ has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered shares of HP to a “hold” rating and set a $30.00 target price on the stock. in a research note on Wednesday, October 6th. Morgan Stanley lowered shares of HP from an “overweight” rating to an “equal weight” rating and set a $31.00 target price on the stock. in a research note on Friday, August 27th. Jefferies Financial Group started coverage on shares of HP in a research note on Monday, August 9th. They set a “hold” rating and a $31.00 target price on the stock. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $34.00 price objective on shares of HP in a research note on Sunday, August 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.63.
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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