California State Teachers Retirement System Acquires 44,954 Shares of HP Inc. (NYSE:HPQ)

California State Teachers Retirement System increased its position in HP Inc. (NYSE:HPQ – Get Rating) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,824,388 shares of the computer maker’s stock after buying an additional 44,954 shares during the period. California State Teachers Retirement System’s holdings in HP were worth $45,464,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. M&T Bank Corp boosted its holdings in shares of HP by 2.3% during the 3rd quarter. M&T Bank Corp now owns 179,870 shares of the computer maker’s stock valued at $4,484,000 after purchasing an additional 3,970 shares during the last quarter. One Fin Capital Management LP purchased a new stake in shares of HP during the 3rd quarter valued at about $2,990,000. Alpha Paradigm Partners LLC raised its position in shares of HP by 70.2% during the 3rd quarter. Alpha Paradigm Partners LLC now owns 19,582 shares of the computer maker’s stock valued at $488,000 after buying an additional 8,078 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of HP by 4.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 47,978 shares of the computer maker’s stock valued at $1,195,000 after buying an additional 2,010 shares in the last quarter. Finally, Covington Capital Management raised its position in shares of HP by 1.4% during the 3rd quarter. Covington Capital Management now owns 49,530 shares of the computer maker’s stock valued at $1,234,000 after buying an additional 686 shares in the last quarter. Institutional investors own 79.68% of the company’s stock.

HP Trading Down 1.0 %

HPQ opened at $28.04 on Friday. The firm has a market capitalization of $27.63 billion, a PE ratio of 11.17, a PEG ratio of 3.09 and a beta of 1.01. HP Inc. has a twelve month low of $24.08 and a twelve month high of $41.47. The firm’s 50-day moving average price is $28.92 and its 200 day moving average price is $27.98.

HP (NYSE:HPQ – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The computer maker reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.17 billion. HP had a net margin of 4.36% and a negative return on equity of 141.20%. HP’s quarterly revenue was down 18.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 earnings per share. As a group, analysts predict that HP Inc. will post 3.29 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 8th will be issued a $0.2625 dividend. The ex-dividend date is Tuesday, March 7th. This represents a $1.05 annualized dividend and a yield of 3.74%. HP’s payout ratio is 41.83%.

Insider Buying and Selling at HP

In other HP news, CFO Marie Myers sold 7,380 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $29.87, for a total value of $220,440.60. Following the transaction, the chief financial officer now directly owns 22,648 shares in the company, valued at approximately $676,495.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Marie Myers sold 7,380 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $29.87, for a total value of $220,440.60. Following the transaction, the chief financial officer now directly owns 22,648 shares in the company, valued at approximately $676,495.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Enrique Lores sold 34,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $27.13, for a total transaction of $922,420.00. Following the completion of the transaction, the chief executive officer now owns 804,268 shares in the company, valued at $21,819,790.84. The disclosure for this sale can be found here. Insiders have sold 76,749 shares of company stock worth $2,105,460 in the last ninety days. 0.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HPQ. UBS Group set a $30.00 target price on shares of HP in a research report on Thursday, November 24th. Credit Suisse Group downgraded shares of HP from an “outperform” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research note on Friday, November 18th. Barclays dropped their price objective on shares of HP from $27.00 to $24.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 23rd. StockNews.com started coverage on shares of HP in a research note on Thursday. They issued a “hold” rating for the company. Finally, Morgan Stanley raised their price target on shares of HP from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday, February 21st. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.40.

About HP

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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.