State of Alaska Department of Revenue Sells 9,175 Shares of HP Inc. (NYSE:HPQ)

State of Alaska Department of Revenue lessened its holdings in shares of HP Inc. (NYSE:HPQFree Report) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,915 shares of the computer maker’s stock after selling 9,175 shares during the quarter. State of Alaska Department of Revenue’s holdings in HP were worth $2,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P boosted its stake in shares of HP by 89.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 873,243 shares of the computer maker’s stock valued at $31,698,000 after purchasing an additional 413,491 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in HP by 46.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 305,877 shares of the computer maker’s stock valued at $11,103,000 after acquiring an additional 97,178 shares in the last quarter. Prudential PLC bought a new position in shares of HP in the 1st quarter worth approximately $892,000. Cetera Investment Advisers lifted its stake in shares of HP by 6.8% in the 1st quarter. Cetera Investment Advisers now owns 17,651 shares of the computer maker’s stock valued at $641,000 after purchasing an additional 1,121 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of HP during the first quarter valued at approximately $309,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Up 0.4 %

Shares of NYSE HPQ opened at $29.67 on Thursday. The firm has a market cap of $29.10 billion, a P/E ratio of 8.68, a PEG ratio of 2.55 and a beta of 1.05. HP Inc. has a twelve month low of $25.22 and a twelve month high of $33.90. The company has a 50 day moving average of $29.38 and a 200 day moving average of $28.60.

HP (NYSE:HPQGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The firm had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $13.56 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. As a group, equities analysts expect that HP Inc. will post 3.41 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Tuesday, March 12th. HP’s payout ratio is presently 32.16%.

Analyst Ratings Changes

Several brokerages have commented on HPQ. Barclays raised their price objective on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Morgan Stanley raised shares of HP from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $31.00 to $35.00 in a research note on Tuesday, December 12th. Evercore ISI upgraded shares of HP from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $33.00 to $40.00 in a report on Monday, December 11th. StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Finally, HSBC raised HP from a “hold” rating to a “buy” rating and raised their price objective for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, HP presently has an average rating of “Moderate Buy” and an average price target of $33.11.

Check Out Our Latest Stock Analysis on HP

Insider Transactions at HP

In other news, insider Kristen M. Ludgate sold 41,015 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the sale, the insider now owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the sale, the director now owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The disclosure for this sale can be found here. Insiders sold 116,723 shares of company stock worth $3,479,287 over the last three months. 0.41% of the stock is currently owned by company insiders.

HP Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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