California Public Employees Retirement System Sells 120,573 Shares of HP Inc. (NYSE:HPQ)

California Public Employees Retirement System decreased its position in HP Inc. (NYSE:HPQ) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,066,488 shares of the computer maker’s stock after selling 120,573 shares during the quarter. California Public Employees Retirement System owned 0.65% of HP worth $197,950,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HPQ. Synergy Asset Management LLC acquired a new position in HP during the fourth quarter worth $26,000. Stonebridge Financial Group LLC acquired a new position in shares of HP during the 4th quarter worth about $31,000. OFI Invest Asset Management acquired a new position in shares of HP during the 4th quarter worth about $37,000. Itau Unibanco Holding S.A. bought a new position in shares of HP in the 3rd quarter valued at about $40,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of HP in the fourth quarter valued at about $50,000. 77.53% of the stock is currently owned by institutional investors.

HP Trading Down 2.6 %

NYSE:HPQ opened at $27.90 on Monday. The stock has a 50 day simple moving average of $31.48 and a 200 day simple moving average of $33.98. The stock has a market cap of $26.30 billion, a P/E ratio of 9.93, a PEG ratio of 2.96 and a beta of 1.09. HP Inc. has a 1-year low of $27.43 and a 1-year high of $39.80.

HP (NYSE:HPQ) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. As a group, sell-side analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is currently 41.37%.

Insider Buying and Selling

In other HP news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now directly owns 169 shares in the company, valued at $4,814.81. This represents a 99.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley decreased their price target on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company increased their price target on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Loop Capital lowered their price objective on shares of HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. Barclays raised their target price on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, Sanford C. Bernstein boosted their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.14.

HP 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.