HP Inc. (NYSE:HPQ) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its stake in HP Inc. (NYSE:HPQ) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,222 shares of the computer maker’s stock after selling 3,361 shares during the period. Kentucky Retirement Systems’ holdings in HP were worth $2,001,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in HP in the fourth quarter valued at approximately $28,000. Sawyer & Company Inc raised its position in HP by 900.0% during 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 during the period. Janiczek Wealth Management LLC lifted its holdings in HP by 116.7% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 566 shares in the last quarter. Rise Advisors LLC increased its stake in shares of HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of HP during the 4th quarter worth about $34,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at $2,335,450.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.41% of the stock is currently owned by insiders.

HP Stock Down 1.0 %

Shares of HPQ stock traded down $0.38 on Monday, reaching $35.96. 1,735,566 shares of the stock were exchanged, compared to its average volume of 7,959,287. The firm has a 50 day moving average of $35.67 and a two-hundred day moving average of $31.48. The stock has a market cap of $35.19 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter in the prior year, the business earned $0.80 EPS. HP’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts predict 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. Shareholders 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 3.07%. HP’s payout ratio is currently 37.16%.

Wall Street Analyst Weigh In

HPQ has been the subject of a number of research analyst reports. Barclays increased their target price on HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Citigroup boosted their price objective on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. TD Cowen raised their target price on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Bank of America lifted their target price on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company boosted their price objective on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

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.