State of Tennessee Department of Treasury Boosts Stock Position in HP Inc. (NYSE:HPQ)

State of Tennessee Department of Treasury lifted its position in HP Inc. (NYSE:HPQ - Free Report) by 93.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 272,109 shares of the computer maker's stock after buying an additional 131,728 shares during the quarter. State of Tennessee Department of Treasury's holdings in HP were worth $8,879,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Synergy Asset Management LLC acquired a new stake in HP during the fourth quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new position in HP during the 4th quarter worth about $31,000. OFI Invest Asset Management bought a new position in HP in the 4th quarter worth approximately $37,000. Wingate Wealth Advisors Inc. bought a new stake in HP during the 4th quarter worth about $50,000. Finally, Summit Securities Group LLC bought a new position in shares of HP during the fourth quarter worth $55,000. Institutional investors and hedge funds own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on HP from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Sanford C. Bernstein upped their target price on shares of HP from $32.00 to $34.00 and gave the company a "market perform" rating in a report on Friday, January 3rd. Citigroup lowered their price target on HP from $36.50 to $25.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Barclays increased their price objective on shares of HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. Finally, Evercore ISI lowered their price target on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $33.83.

HP Price Performance

Shares of NYSE HPQ traded up $0.19 during mid-day trading on Tuesday, hitting $25.58. 1,397,869 shares of the stock traded hands, compared to its average volume of 7,815,857. The company has a market cap of $24.11 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80. The firm has a 50 day simple moving average of $27.48 and a two-hundred day simple moving average of $32.22.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts' consensus estimates of $0.74. The firm had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. On average, equities research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a dividend of $0.2894 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.53%. HP's dividend payout ratio (DPR) is presently 41.37%.

Insider Buying and Selling

In other news, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the sale, the insider now owns 169 shares in the company, valued at $4,814.81. This trade represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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.