Teacher Retirement System of Texas Cuts Stock Position in HP Inc. (NYSE:HPQ)

Teacher Retirement System of Texas lowered its holdings in HP Inc. (NYSE:HPQ) by 34.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 309,695 shares of the computer maker’s stock after selling 159,494 shares during the period. Teacher Retirement System of Texas’ holdings in HP were worth $8,473,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of HPQ. Amundi purchased a new position in HP in the second quarter worth $173,097,000. BlackRock Inc. boosted its position in HP by 2.9% in the second quarter. BlackRock Inc. now owns 109,024,707 shares of the computer maker’s stock worth $3,291,454,000 after purchasing an additional 3,102,708 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of HP during the 2nd quarter valued at $85,975,000. Invesco Ltd. lifted its position in shares of HP by 19.9% during the 2nd quarter. Invesco Ltd. now owns 11,195,961 shares of the computer maker’s stock valued at $338,006,000 after buying an additional 1,859,807 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of HP by 34.9% during the 2nd quarter. First Trust Advisors LP now owns 5,520,084 shares of the computer maker’s stock valued at $166,651,000 after buying an additional 1,427,500 shares during the last quarter. 82.28% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently commented on HPQ shares. TheStreet raised HP from a “c+” rating to a “b-” rating in a research report on Tuesday, November 2nd. Evercore ISI boosted their price objective on HP from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 24th. JPMorgan Chase & Co. lowered HP to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Wednesday, October 6th. Wells Fargo & Company boosted their price objective on HP from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 24th. Finally, Sanford C. Bernstein boosted their price objective on HP from $32.00 to $40.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.38.

In related news, insider Harvey Anderson sold 7,811 shares of the stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $31.26, for a total transaction of $244,171.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Enrique Lores sold 34,000 shares of the stock in a transaction dated Monday, January 3rd. The shares were sold at an average price of $37.84, for a total value of $1,286,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 357,989 shares of company stock valued at $12,258,879 over the last 90 days. 0.19% of the stock is currently owned by company insiders.

Shares of HP stock opened at $38.42 on Friday. The firm has a market capitalization of $41.60 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 3.63 and a beta of 1.00. The business’s 50-day moving average price is $35.88 and its 200-day moving average price is $31.34. HP Inc. has a 12 month low of $24.07 and a 12 month high of $39.65.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 23rd. The computer maker reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. The firm had revenue of $16.68 billion for the quarter, compared to analyst estimates of $15.42 billion. HP had a negative return on equity of 151.64% and a net margin of 10.24%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 EPS. On average, analysts expect that HP Inc. will post 4.16 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 6th. Stockholders of record on Wednesday, March 9th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.60%. HP’s dividend payout ratio (DPR) is presently 18.38%.

About HP

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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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