Kentucky Retirement Systems Insurance Trust Fund Takes Position in HP Inc. (NYSE:HPQ)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in HP Inc. (NYSE:HPQ) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 27,258 shares of the computer maker’s stock, valued at approximately $755,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. West Paces Advisors Inc. increased its position in shares of HP by 3.2% in the fourth quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker’s stock valued at $314,000 after buying an additional 298 shares in the last quarter. TIAA Trust National Association increased its position in shares of HP by 1.8% during the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock worth $548,000 after purchasing an additional 302 shares in the last quarter. HBK Sorce Advisory LLC increased its position in shares of HP by 2.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock worth $374,000 after purchasing an additional 306 shares in the last quarter. Auxano Advisors LLC increased its position in shares of HP by 3.7% during the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after purchasing an additional 310 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its position in shares of HP by 1.6% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 20,384 shares of the computer maker’s stock worth $665,000 after purchasing an additional 329 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Performance

NYSE HPQ opened at $24.55 on Wednesday. The stock’s fifty day moving average is $25.84 and its two-hundred day moving average is $29.22. The firm has a market capitalization of $23.06 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The business had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period last year, the company earned $0.82 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Wednesday, September 10th. HP’s dividend payout ratio (DPR) is presently 44.79%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. KGI Securities assumed coverage on HP in a research report on Thursday, May 29th. They set a “neutral” rating for the company. Wells Fargo & Company dropped their price target on HP from $35.00 to $25.00 and set an “underweight” rating for the company in a research report on Thursday, May 29th. Wall Street Zen upgraded HP from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Morgan Stanley dropped their price target on HP from $29.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, May 29th. Finally, Dbs Bank cut HP from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, HP presently has an average rating of “Hold” and an average price target of $29.54.

Insider Activity

In related news, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

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.