HP Inc. (NYSE:HPQ) Holdings Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in HP Inc. (NYSE:HPQ - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 602,725 shares of the computer maker's stock after selling 84,800 shares during the period. New York State Common Retirement Fund owned 0.06% of HP worth $16,689,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HPQ. Proficio Capital Partners LLC acquired a new position in HP in the fourth quarter valued at approximately $211,000. HighTower Advisors LLC boosted its stake in HP by 1.0% in the fourth quarter. HighTower Advisors LLC now owns 191,082 shares of the computer maker's stock valued at $6,235,000 after acquiring an additional 1,835 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in HP by 1.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 100,821 shares of the computer maker's stock valued at $3,290,000 after acquiring an additional 1,314 shares during the period. Harbour Investments Inc. boosted its stake in HP by 17.7% in the fourth quarter. Harbour Investments Inc. now owns 3,236 shares of the computer maker's stock valued at $106,000 after acquiring an additional 487 shares during the period. Finally, Cibc World Markets Corp boosted its stake in HP by 14.5% in the fourth quarter. Cibc World Markets Corp now owns 152,082 shares of the computer maker's stock valued at $4,962,000 after acquiring an additional 19,238 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Trading Up 1.3%

NYSE:HPQ traded up $0.31 during midday trading on Friday, hitting $25.06. 7,173,119 shares of the stock were exchanged, compared to its average volume of 7,949,493. The company has a market capitalization of $23.54 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 1.99 and a beta of 1.27. HP Inc. has a one year low of $21.21 and a one year high of $39.80. The business has a 50-day moving average price of $25.89 and a two-hundred day moving average price of $28.24.

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). The company had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. HP's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 EPS. Sell-side analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a dividend yield of 4.62%. HP's dividend payout ratio is currently 44.79%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HPQ shares. Wall Street Zen upgraded HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. KGI Securities started coverage on HP in a research report on Thursday, May 29th. They set a "neutral" rating for the company. TD Cowen reduced their price objective on HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Morgan Stanley reduced 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. Finally, Bank of America reduced their price objective on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, HP presently has an average rating of "Hold" and an average 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.