HP Inc. (NYSE:HPQ) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System increased its stake in HP Inc. (NYSE:HPQ) by 0.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 304,262 shares of the computer maker’s stock after buying an additional 800 shares during the quarter. State of Michigan Retirement System’s holdings in HP were worth $9,195,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rosenberg Matthew Hamilton lifted 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 during the period. Turtle Creek Wealth Advisors LLC bought a new stake in HP in the fourth quarter worth about $28,000. Sawyer & Company Inc raised its position in HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after acquiring an additional 900 shares in the last quarter. Janiczek Wealth Management LLC raised its position in HP by 116.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after acquiring an additional 566 shares in the last quarter. Finally, Rise Advisors LLC raised its position in HP by 377.9% in the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after acquiring an additional 839 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insiders Place Their Bets

In other HP news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the sale, the insider now owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on HPQ shares. Wells Fargo & Company boosted their price target on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. Barclays boosted their price target on shares of HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. boosted their price target on shares of HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Citigroup boosted their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, UBS Group boosted their price objective on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

HP Stock Performance

Shares of NYSE HPQ traded down $0.17 during trading hours on Tuesday, hitting $34.80. The stock had a trading volume of 5,786,172 shares, compared to its average volume of 8,260,737. The company has a market capitalization of $34.05 billion, a P/E ratio of 11.71, a P/E/G ratio of 2.23 and a beta of 1.09. The firm’s 50-day moving average price is $32.86 and its two-hundred day moving average price is $30.63. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 EPS. As a group, analysts expect that HP Inc. will post 3.45 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be paid a $0.2756 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 3.17%. HP’s payout ratio is 37.16%.

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.