New York State Teachers Retirement System Sells 23,962 Shares of HP Inc. (NYSE:HPQ)

New York State Teachers Retirement System lowered its stake in HP Inc. (NYSE:HPQ - Free Report) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 870,546 shares of the computer maker's stock after selling 23,962 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of HP worth $24,105,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. West Paces Advisors Inc. boosted its position in shares of HP by 3.2% in the fourth quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker's stock worth $314,000 after buying an additional 298 shares during the period. TIAA Trust National Association lifted its stake in HP by 1.8% in the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker's stock worth $548,000 after acquiring an additional 302 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in HP by 2.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker's stock worth $374,000 after acquiring an additional 306 shares during the period. Dorsey & Whitney Trust CO LLC boosted its position in HP by 1.6% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 20,384 shares of the computer maker's stock worth $665,000 after acquiring an additional 329 shares during the period. Finally, Sound View Wealth Advisors Group LLC grew its stake in HP by 3.3% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 10,312 shares of the computer maker's stock valued at $336,000 after acquiring an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Stock Up 0.6%

Shares of NYSE:HPQ traded up $0.15 during trading on Friday, reaching $26.00. The stock had a trading volume of 4,740,176 shares, compared to its average volume of 7,929,317. The stock has a fifty day simple moving average of $25.98 and a two-hundred day simple moving average of $28.78. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.80. The firm has a market capitalization of $24.42 billion, a price-to-earnings ratio of 10.04, a P/E/G ratio of 2.09 and a beta of 1.27.

HP (NYSE:HPQ - Get Free Report) last announced its 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 firm had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter last year, the business earned $0.82 EPS. The business's revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.45%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio is currently 44.40%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HPQ. TD Cowen reduced their price target on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Bank of America decreased their target price on shares of HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. KGI Securities began coverage on HP in a report on Thursday, May 29th. They set a "neutral" rating for the company. Finally, Citigroup reduced 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 issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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.