State of Alaska Department of Revenue Increases Stock Holdings in HP Inc. (NYSE:HPQ)

State of Alaska Department of Revenue raised its holdings in HP Inc. (NYSE:HPQ) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 210,875 shares of the computer maker’s stock after buying an additional 17,175 shares during the quarter. State of Alaska Department of Revenue’s holdings in HP were worth $6,880,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HPQ. Marshall Wace LLP acquired a new position in shares of HP in the 2nd quarter valued at $269,000. Czech National Bank boosted its holdings in HP by 21.2% in the third quarter. Czech National Bank now owns 199,343 shares of the computer maker’s stock valued at $7,150,000 after purchasing an additional 34,881 shares during the last quarter. Mather Group LLC. grew its position in HP by 6.1% during the 3rd quarter. Mather Group LLC. now owns 7,353 shares of the computer maker’s stock worth $264,000 after purchasing an additional 421 shares during the period. Atomi Financial Group Inc. raised its stake in shares of HP by 6.0% during the 3rd quarter. Atomi Financial Group Inc. now owns 7,013 shares of the computer maker’s stock valued at $252,000 after buying an additional 400 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of HP by 9.4% in the 3rd quarter. CWM LLC now owns 41,014 shares of the computer maker’s stock valued at $1,471,000 after buying an additional 3,513 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Buying and Selling

In other news, insider Alex Cho sold 10,298 shares of HP stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the transaction, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is owned by insiders.

HP Trading Down 1.0 %

HPQ stock opened at $32.26 on Friday. The business’s 50-day moving average is $33.55 and its 200 day moving average is $35.00. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The stock has a market cap of $30.25 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 2.77 and a beta of 1.05.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period in the previous year, the company posted $0.90 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. As a group, equities analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 3.59%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is currently 41.28%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. TD Cowen increased their price target on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Citigroup dropped their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Barclays upped their price objective on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Sanford C. Bernstein lifted their price target on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.23.

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.