Teachers Retirement System of The State of Kentucky Has $4.19 Million Position in HP Inc. (HPQ)
Teachers Retirement System of The State of Kentucky trimmed its stake in shares of HP Inc. (NYSE:HPQ) by 11.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 162,587 shares of the computer maker’s stock after selling 20,750 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in HP were worth $4,190,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased its stake in HP by 148.4% in the 2nd quarter. Private Advisor Group LLC now owns 84,522 shares of the computer maker’s stock worth $1,929,000 after acquiring an additional 50,500 shares during the last quarter. First American Bank bought a new position in HP in the 3rd quarter worth about $4,044,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in HP by 1.2% in the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 3,177,800 shares of the computer maker’s stock worth $72,104,000 after acquiring an additional 37,300 shares during the last quarter. BDO Wealth Advisors LLC increased its stake in HP by 15.8% in the 2nd quarter. BDO Wealth Advisors LLC now owns 45,442 shares of the computer maker’s stock worth $1,031,000 after acquiring an additional 6,208 shares during the last quarter. Finally, Atria Investments LLC increased its stake in HP by 7.0% in the 3rd quarter. Atria Investments LLC now owns 59,078 shares of the computer maker’s stock worth $1,522,000 after acquiring an additional 3,844 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.
In other HP news, COO Catherine A. Lesjak sold 693,594 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $25.78, for a total value of $17,880,853.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kim M. Rivera sold 46,072 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $24.14, for a total value of $1,112,178.08. Following the completion of the sale, the insider now owns 15,241 shares of the company’s stock, valued at approximately $367,917.74. The disclosure for this sale can be found here. Insiders have sold a total of 826,055 shares of company stock valued at $21,135,479 over the last 90 days. 0.25% of the stock is currently owned by company insiders.
HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, August 23rd. The computer maker reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $14.59 billion during the quarter, compared to analysts’ expectations of $14.29 billion. HP had a negative return on equity of 130.47% and a net margin of 7.95%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 EPS. As a group, research analysts anticipate that HP Inc. will post 2.02 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Thursday, December 13th will be issued a dividend of $0.1602 per share. The ex-dividend date of this dividend is Wednesday, December 12th. This is a boost from HP’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 2.83%. HP’s dividend payout ratio is currently 33.94%.
HPQ has been the topic of a number of research analyst reports. Morgan Stanley decreased their target price on HP from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 4th. Maxim Group upped their target price on HP from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. Loop Capital upped their target price on HP to $30.00 and gave the stock a “positive” rating in a research note on Thursday, October 4th. Zacks Investment Research lowered HP from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Finally, Bank of America upped their target price on HP from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, October 4th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $27.44.
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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.
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