Kentucky Retirement Systems Reduces Stock Holdings in HP Inc. (NYSE:HPQ)

Kentucky Retirement Systems lowered its holdings in shares of HP Inc. (NYSE:HPQ) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,246 shares of the computer maker’s stock after selling 926 shares during the quarter. Kentucky Retirement Systems’ holdings in HP were worth $2,194,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. King Luther Capital Management Corp boosted its holdings in HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after acquiring an additional 303 shares during the period. Arvest Investments Inc. boosted its holdings in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after acquiring an additional 310 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in HP by 4.3% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock valued at $277,000 after acquiring an additional 316 shares during the period. Wedmont Private Capital boosted its holdings in HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after acquiring an additional 316 shares during the period. Finally, Old Port Advisors boosted its holdings in HP by 3.4% during the 3rd quarter. Old Port Advisors now owns 9,612 shares of the computer maker’s stock valued at $345,000 after acquiring an additional 317 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Trading Down 0.3 %

HPQ opened at $34.63 on Friday. The firm has a market cap of $32.48 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 2.96 and a beta of 1.05. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The stock has a fifty day moving average price of $33.10 and a 200-day moving average price of $34.84.

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

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.34%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is currently 40.93%.

Analyst Upgrades and Downgrades

HPQ has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday. Barclays lifted their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Citigroup decreased their target price on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. decreased their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.68.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the company’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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock valued at $9,670,068 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

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.