Maryland State Retirement & Pension System Has $1.88 Million Stock Holdings in HP Inc. (NYSE:HPQ)

Maryland State Retirement & Pension System lifted its stake in HP Inc. (NYSE:HPQ) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,807 shares of the computer maker’s stock after acquiring an additional 1,833 shares during the quarter. Maryland State Retirement & Pension System’s holdings in HP were worth $1,877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. FORVIS Wealth Advisors LLC increased its stake in shares of HP by 4.1% in the first quarter. FORVIS Wealth Advisors LLC now owns 147,902 shares of the computer maker’s stock worth $4,470,000 after acquiring an additional 5,776 shares during the last quarter. FCG Investment Co acquired a new position in shares of HP in the first quarter worth $208,000. Oak Harvest Investment Services increased its stake in shares of HP by 0.7% in the first quarter. Oak Harvest Investment Services now owns 151,646 shares of the computer maker’s stock worth $4,583,000 after acquiring an additional 1,116 shares during the last quarter. Legacy Wealth Asset Management LLC increased its stake in shares of HP by 2.0% in the first quarter. Legacy Wealth Asset Management LLC now owns 37,873 shares of the computer maker’s stock worth $1,145,000 after acquiring an additional 741 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in shares of HP by 7.3% in the first quarter. First Trust Direct Indexing L.P. now owns 30,498 shares of the computer maker’s stock worth $922,000 after acquiring an additional 2,086 shares during the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America increased their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Morgan Stanley increased their target price on shares of HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. UBS Group increased their target price on shares of HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. TD Cowen increased their target price on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company increased their target price on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.64.

HP Price Performance

Shares of NYSE HPQ traded down $0.22 during mid-day trading on Friday, hitting $34.63. The company had a trading volume of 538,209 shares, compared to its average volume of 8,167,003. The business’s 50-day simple moving average is $33.27 and its 200-day simple moving average is $30.72. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52. The firm has a market cap of $33.89 billion, a P/E ratio of 11.77, a PEG ratio of 2.22 and a beta of 1.09.

HP (NYSE:HPQ) last released its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter last year, the company earned $0.80 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. As a group, sell-side analysts predict that HP Inc. will post 3.45 EPS for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio is 37.16%.

Insiders Place Their Bets

In other HP news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at $2,335,450.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.