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

Kentucky Retirement Systems Insurance Trust Fund reduced its position in HP Inc. (NYSE:HPQ) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,776 shares of the computer maker’s stock after selling 2,207 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in HP were worth $870,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of HP by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after acquiring an additional 3,062,441 shares during the last quarter. LSV Asset Management increased its position in shares of HP by 3.3% during the 1st quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock worth $383,028,000 after purchasing an additional 403,355 shares during the last quarter. Northern Trust Corp increased its position in shares of HP by 0.4% during the 4th quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock worth $306,089,000 after purchasing an additional 40,884 shares during the last quarter. Norges Bank acquired a new stake in shares of HP during the 4th quarter worth about $187,264,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of HP by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,771,103 shares of the computer maker’s stock worth $173,652,000 after purchasing an additional 232,515 shares during the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Stock Down 1.1 %

HPQ traded down $0.39 during trading on Monday, hitting $35.95. 1,641,492 shares of the stock were exchanged, compared to its average volume of 7,959,980. The firm has a market capitalization of $35.18 billion, a P/E ratio of 12.20, a PEG 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. The stock has a fifty day moving average price of $35.67 and a two-hundred day moving average price of $31.48.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 earnings per share. Analysts predict that HP Inc. will post 3.45 EPS for the current year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Wednesday, September 11th. HP’s payout ratio is currently 37.16%.

Insider Activity

In other news, insider Alex Cho sold 173,137 shares of the business’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 value of $6,251,977.07. Following the transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HPQ. Barclays raised their price objective on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Wells Fargo & Company raised their target price on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Morgan Stanley lifted their price objective on HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. TD Cowen lifted their price objective on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Finally, Citigroup lifted their price objective on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, HP currently has an average rating of “Moderate Buy” and an average target price 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.