HP Inc. (NYSE:HPQ) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,643 shares of the computer maker's stock after selling 15,031 shares during the quarter. Illinois Municipal Retirement Fund's holdings in HP were worth $5,694,000 at the end of the most recent reporting period.

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

HP Stock Up 0.3%

HPQ stock opened at $24.78 on Friday. The business has a 50 day moving average price of $25.90 and a 200 day moving average price of $29.00. The stock has a market cap of $23.27 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 2.01 and a beta of 1.30. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). HP had a net margin of 4.64% and a negative return on equity of 244.99%. The firm had revenue of $13.22 billion during the quarter, compared to analysts' expectations of $13.09 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. HP's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio is currently 44.79%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays set a $28.00 target price on HP and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Morgan Stanley lowered their price objective on HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research report on Thursday, May 29th. Loop Capital lowered their price objective on HP from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, March 4th. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Citigroup lowered their price objective on HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $29.54.

About HP

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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