California State Teachers Retirement System Sells 134,943 Shares of HP Inc. (NYSE:HPQ)

California State Teachers Retirement System reduced its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 7.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,631,672 shares of the computer maker's stock after selling 134,943 shares during the period. California State Teachers Retirement System owned about 0.17% of HP worth $53,241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HPQ. Geode Capital Management LLC raised its stake in shares of HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after acquiring an additional 579,525 shares during the last quarter. Northern Trust Corp increased its holdings in HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock valued at $419,126,000 after purchasing an additional 1,755,942 shares in the last quarter. Invesco Ltd. raised its position in HP by 7.3% in the 4th quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker's stock valued at $310,351,000 after purchasing an additional 643,192 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in HP by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker's stock worth $303,105,000 after purchasing an additional 707,742 shares in the last quarter. Finally, Norges Bank acquired a new position in HP in the fourth quarter worth $229,320,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Down 0.3%

HPQ stock traded down $0.07 during midday trading on Friday, reaching $24.88. The company's stock had a trading volume of 16,291,226 shares, compared to its average volume of 7,824,290. The business's 50-day simple moving average is $25.95 and its 200-day simple moving average is $30.61. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.80. The stock has a market cap of $23.45 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be given a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $1.16 annualized dividend and a dividend yield of 4.65%. HP's payout ratio is currently 44.40%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HPQ shares. Morgan Stanley cut their price target on HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a report on Thursday. TD Cowen lowered their price objective on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday. Barclays set a $28.00 target price on shares of HP and gave the stock an "equal weight" rating in a research report on Thursday. Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Citigroup dropped their price objective on shares of HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, HP presently has an average rating of "Hold" and an average target price of $29.54.

Insider Activity

In other news, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares of the company's stock, valued at $4,814.81. This trade represents a 99.22% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

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.