New York State Common Retirement Fund Sells 47,800 Shares of HP Inc. (NYSE:HPQ)

New York State Common Retirement Fund lessened its stake in shares of HP Inc. (NYSE:HPQ) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 687,525 shares of the computer maker’s stock after selling 47,800 shares during the period. New York State Common Retirement Fund owned about 0.07% of HP worth $22,434,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after acquiring an additional 3,923,161 shares during the period. Geode Capital Management LLC grew its holdings in HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares during the period. Pacer Advisors Inc. increased its position in HP by 4.2% in the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after buying an additional 592,391 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of HP by 7.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock valued at $307,816,000 after buying an additional 612,675 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of HP by 11.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker’s stock valued at $241,876,000 after buying an additional 678,985 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In related news, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,035 shares of company stock worth $9,670,068. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HPQ. TD Cowen lifted their price objective on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein raised their price objective on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Citigroup reduced their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, HSBC downgraded HP from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.68.

HP Stock Down 0.3 %

HP stock opened at $34.63 on Friday. The stock has a market cap of $32.48 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 2.96 and a beta of 1.05. The business has a 50-day simple moving average of $33.10 and a 200 day simple moving average of $34.83. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

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

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 3.34%. HP’s dividend payout ratio (DPR) is presently 41.28%.

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.