State of Alaska Department of Revenue Sells 3,621 Shares of HP Inc. (NYSE:HPQ)

State of Alaska Department of Revenue lowered its position in HP Inc. (NYSE:HPQGet Rating) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 196,188 shares of the computer maker’s stock after selling 3,621 shares during the period. State of Alaska Department of Revenue’s holdings in HP were worth $6,430,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cullinan Associates Inc. lifted its holdings in shares of HP by 15.9% in the second quarter. Cullinan Associates Inc. now owns 243,121 shares of the computer maker’s stock valued at $7,970,000 after purchasing an additional 33,350 shares in the last quarter. CHURCHILL MANAGEMENT Corp lifted its holdings in shares of HP by 2.1% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 362,449 shares of the computer maker’s stock valued at $11,881,000 after purchasing an additional 7,383 shares in the last quarter. Covington Capital Management lifted its holdings in shares of HP by 1.5% in the second quarter. Covington Capital Management now owns 48,844 shares of the computer maker’s stock valued at $1,601,000 after purchasing an additional 708 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of HP by 3.3% in the first quarter. J.W. Cole Advisors Inc. now owns 11,257 shares of the computer maker’s stock valued at $409,000 after purchasing an additional 363 shares in the last quarter. Finally, American Trust increased its position in shares of HP by 31.6% during the first quarter. American Trust now owns 13,529 shares of the computer maker’s stock valued at $491,000 after acquiring an additional 3,247 shares during the last quarter. Institutional investors own 81.17% of the company’s stock.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $32.67, for a total transaction of $1,110,780.00. Following the completion of the sale, the chief executive officer now owns 551,204 shares of the company’s stock, valued at $18,007,834.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other HP news, CFO Marie Myers sold 4,500 shares of HP stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $32.67, for a total transaction of $147,015.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares of the company’s stock, valued at $588,060. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $32.67, for a total value of $1,110,780.00. Following the sale, the chief executive officer now directly owns 551,204 shares of the company’s stock, valued at approximately $18,007,834.68. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock valued at $1,406,520 over the last 90 days. Insiders own 0.22% of the company’s stock.

HP Stock Performance

NYSE:HPQ opened at $26.95 on Tuesday. The firm has a market capitalization of $27.11 billion, a price-to-earnings ratio of 4.71, a P/E/G ratio of 2.44 and a beta of 0.96. HP Inc. has a 52-week low of $26.11 and a 52-week high of $41.47. The stock has a fifty day moving average of $31.58 and a 200 day moving average of $34.72.

HP (NYSE:HPQGet Rating) last posted its quarterly earnings data on Tuesday, August 30th. The computer maker reported $1.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.04. The company had revenue of $14.66 billion during the quarter, compared to analyst estimates of $15.63 billion. HP had a negative return on equity of 220.16% and a net margin of 9.72%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned $1.00 earnings per share. Equities analysts forecast that HP Inc. will post 4.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HPQ. UBS Group decreased their target price on HP from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, August 31st. Barclays decreased their target price on HP from $32.00 to $27.00 and set an “underweight” rating for the company in a research report on Wednesday, August 31st. StockNews.com downgraded HP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Morgan Stanley reduced their price target on HP from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Wednesday, August 31st. Finally, Cowen reduced their price target on HP from $38.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, August 31st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.50.

HP Profile

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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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