Kentucky Retirement Systems Insurance Trust Fund Buys Shares of 27,258 HP Inc. (NYSE:HPQ)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in HP Inc. (NYSE:HPQ - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 27,258 shares of the computer maker's stock, valued at approximately $755,000.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in 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 buying an additional 579,525 shares during the last quarter. Amundi boosted its position in HP by 15.9% in the 4th quarter. Amundi now owns 6,561,399 shares of the computer maker's stock worth $217,319,000 after purchasing an additional 899,349 shares in the last quarter. Gotham Asset Management LLC boosted its position in HP by 23.6% in the 4th quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock worth $20,864,000 after purchasing an additional 122,289 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in HP in the 4th quarter worth approximately $36,492,000. Finally, Resona Asset Management Co. Ltd. purchased a new stake in HP in the 4th quarter worth approximately $9,481,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Price Performance

NYSE HPQ traded up $0.20 during mid-day trading on Thursday, hitting $24.73. The stock had a trading volume of 6,863,034 shares, compared to its average volume of 7,869,879. The firm's 50 day moving average is $25.86 and its 200 day moving average is $29.19. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80. The stock has a market capitalization of $23.23 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 1.99 and a beta of 1.30.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data 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 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 analyst estimates of $13.09 billion. During the same period in the prior year, the company posted $0.82 earnings per share. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.68%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio is currently 44.40%.

Analyst Ratings Changes

Several equities research analysts have commented on HPQ shares. UBS Group lowered their price objective on HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Evercore ISI lowered their price objective on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. TD Cowen lowered their price objective on HP from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Bank of America reduced their target price on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, HP has an average rating of "Hold" and a consensus target price of $29.54.

HP Company 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.