California Public Employees Retirement System Boosts Position in HP Inc. (NYSE:HPQ)

California Public Employees Retirement System lifted its holdings in HP Inc. (NYSE:HPQ - Free Report) by 69.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,030,982 shares of the computer maker's stock after purchasing an additional 2,064,869 shares during the period. California Public Employees Retirement System owned about 0.51% of HP worth $151,382,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CWM LLC increased its stake in shares of HP by 4.3% in the third quarter. CWM LLC now owns 27,328 shares of the computer maker's stock worth $702,000 after acquiring an additional 1,129 shares during the period. IFP Advisors Inc raised its position in shares of HP by 9.8% in the third quarter. IFP Advisors Inc now owns 11,731 shares of the computer maker's stock valued at $302,000 after buying an additional 1,048 shares during the last quarter. SG Americas Securities LLC raised its position in shares of HP by 9.6% in the third quarter. SG Americas Securities LLC now owns 43,746 shares of the computer maker's stock valued at $1,124,000 after buying an additional 3,827 shares during the last quarter. CreativeOne Wealth LLC increased its position in HP by 11.5% during the third quarter. CreativeOne Wealth LLC now owns 8,427 shares of the computer maker's stock worth $217,000 after purchasing an additional 872 shares during the last quarter. Finally, Caprock Group LLC increased its position in HP by 174.4% during the third quarter. Caprock Group LLC now owns 65,862 shares of the computer maker's stock worth $1,710,000 after purchasing an additional 41,860 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

Insider Activity at HP

In related news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the completion of the transaction, the director now owns 60,216 shares in the company, valued at $1,807,082.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other HP news, Director Robert R. Bennett sold 67,000 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the transaction, the director now owns 60,216 shares in the company, valued at approximately $1,807,082.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kristen M. Ludgate sold 41,015 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the transaction, the insider now owns 56,169 shares of the company's stock, valued at approximately $1,642,381.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,723 shares of company stock worth $3,479,287. Corporate insiders own 0.41% of the company's stock.

HP Stock Performance

Shares of HP stock traded up $0.43 on Wednesday, reaching $28.10. The company had a trading volume of 14,490,084 shares, compared to its average volume of 8,047,104. The firm has a market cap of $27.56 billion, a PE ratio of 8.09, a PEG ratio of 2.32 and a beta of 1.05. The firm's 50 day moving average price is $29.31 and its two-hundred day moving average price is $28.84. HP Inc. has a 52-week low of $25.22 and a 52-week high of $33.90.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, meeting analysts' consensus estimates of $0.81. The firm had revenue of $13.19 billion during the quarter, compared to analysts' expectations of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The business's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share. As a group, sell-side analysts predict that HP Inc. will post 3.42 EPS for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Tuesday, March 12th. HP's dividend payout ratio (DPR) is currently 32.16%.

Analyst Ratings Changes

Several research firms recently issued reports on HPQ. Barclays raised their price objective on shares of HP from $22.00 to $24.00 and gave the stock an "underweight" rating in a research report on Thursday, February 29th. StockNews.com cut shares of HP from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 1st. Finally, HSBC upgraded shares of HP from a "hold" rating to a "buy" rating and raised their price objective for the stock from $30.00 to $33.00 in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.11.

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.