State of New Jersey Common Pension Fund D Reduces Stock Position in HP Inc. $HPQ

Key Points

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State of New Jersey Common Pension Fund D trimmed its stake in HP Inc. (NYSE:HPQ - Free Report) by 13.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 308,324 shares of the computer maker's stock after selling 47,082 shares during the period. State of New Jersey Common Pension Fund D's holdings in HP were worth $8,537,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of HP in the 1st quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of HP during the 4th quarter worth approximately $36,000. Iron Horse Wealth Management LLC bought a new stake in shares of HP during the 1st quarter worth approximately $39,000. Financial Freedom LLC lifted its stake in shares of HP by 141.4% during the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after acquiring an additional 878 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in shares of HP by 165.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock worth $42,000 after acquiring an additional 947 shares during the last quarter. 77.53% of the stock is owned by institutional investors.

HP Trading Down 1.9%

Shares of HPQ traded down $0.5040 during trading hours on Wednesday, hitting $26.4960. The company had a trading volume of 6,458,870 shares, compared to its average volume of 7,407,183. The company has a market capitalization of $24.89 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 2.19 and a beta of 1.29. HP Inc. has a one year low of $21.21 and a one year high of $39.79. The company's fifty day moving average price is $25.27 and its two-hundred day moving average price is $27.06.

HP (NYSE:HPQ - Get Free Report) last released 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 negative return on equity of 244.99% and a net margin of 4.64%.The company had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. HP has set its FY 2025 guidance at 3.000-3.300 EPS. Q3 2025 guidance at 0.680-0.800 EPS. Analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.4%. The ex-dividend date is Wednesday, September 10th. HP's payout ratio is 44.40%.

Wall Street Analyst Weigh In

HPQ has been the subject of a number of research analyst reports. Bank of America decreased their price target on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Wells Fargo & Company decreased their price target on HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research note on Thursday, May 29th. Evercore ISI decreased their target price on HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. TD Cowen decreased their target price on HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Finally, Dbs Bank lowered HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Two analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, HP has a consensus rating of "Hold" and a consensus target price of $29.54.

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.