California State Teachers Retirement System Grows Stock Holdings in HP Inc. $HPQ

Key Points

• California State Teachers Retirement System increased its HP stake by 2,151.8% in the second quarter, adding nearly 34 million shares to own 35.6 million shares valued at approximately $780.3 million, or 3.89% of the company.
• Analyst sentiment remains mixed, with HP holding a consensus “Hold” rating and an average price target of $25.77; ratings range from Strong Buy to Sell.
• HP reported stronger-than-expected quarterly results, including $0.83 adjusted earnings per share versus a $0.66 estimate and revenue of $15.68 billion, up 12.5% year over year.

California State Teachers Retirement System grew its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 2,151.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,563,906 shares of the computer maker's stock after purchasing an additional 33,984,527 shares during the period. California State Teachers Retirement System owned about 3.89% of HP worth $780,272,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. IHT Wealth Management LLC lifted its position in HP by 3.3% in the second quarter. IHT Wealth Management LLC now owns 12,470 shares of the computer maker's stock valued at $305,000 after purchasing an additional 398 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of HP by 0.6% in the second quarter. Vident Advisory LLC now owns 69,579 shares of the computer maker's stock worth $1,702,000 after purchasing an additional 444 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of HP by 10.3% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 5,020 shares of the computer maker's stock worth $110,000 after purchasing an additional 467 shares during the last quarter. Vise Technologies Inc. increased its stake in shares of HP by 2.4% in the third quarter. Vise Technologies Inc. now owns 20,531 shares of the computer maker's stock worth $559,000 after buying an additional 477 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its position in shares of HP by 0.6% in the second quarter. Legacy Wealth Asset Management LLC now owns 80,784 shares of the computer maker's stock valued at $1,772,000 after acquiring an additional 491 shares during the period. 77.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Zacks Research raised HP from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 7th. Bank of America reissued an "underperform" rating on shares of HP in a research report on Thursday, August 27th. Royal Bank Of Canada assumed coverage on shares of HP in a report on Thursday. They issued a "sector perform" rating and a $33.00 price objective for the company. Morgan Stanley dropped their target price on shares of HP from $19.00 to $17.00 and set an "underweight" rating for the company in a research report on Monday, August 24th. Finally, Barclays lifted their target price on shares of HP from $19.00 to $23.00 and gave the company an "underweight" rating in a research note on Friday, August 28th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, HP currently has a consensus rating of "Hold" and a consensus target price of $25.77.

HP Price Performance

Shares of NYSE:HPQ opened at $35.42 on Monday. The business has a fifty day moving average price of $28.29 and a 200-day moving average price of $23.72. The company has a market capitalization of $31.94 billion, a PE ratio of 13.52, a PEG ratio of 1.84 and a beta of 1.18. HP Inc. has a 1-year low of $17.56 and a 1-year high of $36.22.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.17. HP had a negative return on equity of 947.78% and a net margin of 4.14%.The business had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.44 billion. During the same quarter in the previous year, the firm earned $0.75 EPS. HP's revenue was up 12.5% on a year-over-year basis. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. On average, sell-side analysts anticipate that HP Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Activity at HP

In other HP news, insider David McQuarrie sold 21,048 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.98, for a total transaction of $631,019.04. Following the sale, the insider directly owned 39,580 shares of the company's stock, valued at $1,186,608.40. This trade represents a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 42,096 shares of company stock worth $1,218,890. 0.18% of the stock is owned by company insiders.

About HP

HP Inc is a global technology company that develops and sells personal computing and printing products and related services. Its Personal Systems business offers laptops, desktop computers, workstations, gaming PCs, monitors, peripherals and accessories for consumers, businesses and public-sector organizations.

Through its Printing business, HP provides home and office printers, commercial printing systems, supplies such as ink and toner, and managed print services. The company also offers software and solutions designed to support device management, security, productivity and digital workflows.

HP serves customers in markets around the world through direct sales, online channels, retailers, distributors and business partners.

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