State of New Jersey Common Pension Fund D Sells 3,872 Shares of HP Inc. (NYSE:HPQ)

State of New Jersey Common Pension Fund D lowered its stake in HP Inc. (NYSE:HPQ) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 355,406 shares of the computer maker’s stock after selling 3,872 shares during the period. State of New Jersey Common Pension Fund D’s holdings in HP were worth $11,597,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of HP during the 3rd quarter valued at about $25,000. Synergy Asset Management LLC bought a new stake in HP during the 4th quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new position in shares of HP during the 4th quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new position in shares of HP in the 3rd quarter worth approximately $40,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of HP in the 3rd quarter valued at approximately $44,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was 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 in the company, valued at $204,002.50. The trade was a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alex Cho sold 10,298 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock worth $9,670,068 over the last three months. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a 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 research note on Wednesday, November 27th. Sanford C. Bernstein boosted their price objective on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. decreased their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Citigroup dropped their price target on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. 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 company. According to data from MarketBeat.com, HP currently has a consensus rating of “Hold” and an average price target of $36.23.

HP Stock Up 1.2 %

Shares of NYSE HPQ opened at $33.69 on Tuesday. The firm has a market cap of $31.59 billion, a P/E ratio of 11.99, a PEG ratio of 2.78 and a beta of 1.05. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The company has a 50 day moving average of $33.17 and a 200 day moving average of $34.82.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting 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 the consensus estimate of $13.99 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Wednesday, March 12th. HP’s payout ratio is presently 41.28%.

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.