Louisiana State Employees Retirement System Has $1.71 Million Stock Position in HP Inc. (NYSE:HPQ)

Louisiana State Employees Retirement System cut its holdings in HP Inc. (NYSE:HPQ) by 3.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,800 shares of the computer maker’s stock after selling 2,000 shares during the period. Louisiana State Employees Retirement System’s holdings in HP were worth $1,709,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Sawyer & Company Inc lifted its position in HP by 900.0% during the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after buying an additional 900 shares in the last quarter. Rise Advisors LLC boosted its position in HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares during the last quarter. Triad Wealth Partners LLC bought a new position in HP in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HP during the 2nd quarter worth approximately $34,000. Finally, Sunbelt Securities Inc. raised its stake in shares of HP by 136.8% during the 1st quarter. Sunbelt Securities Inc. now owns 1,769 shares of the computer maker’s stock worth $53,000 after purchasing an additional 1,022 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Stock Performance

NYSE:HPQ opened at $35.66 on Friday. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The firm’s 50-day simple moving average is $35.56 and its 200 day simple moving average is $32.21. The firm has a market cap of $34.90 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. Sell-side analysts anticipate that HP Inc. will post 3.45 EPS for the current year.

HP Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a yield of 3.09%. HP’s payout ratio is 37.16%.

Insider Buying and Selling at HP

In other news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the topic of a number of recent analyst reports. TD Cowen boosted their target price on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Barclays boosted their price target on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Wells Fargo & Company lifted their target price on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, May 30th. Bank of America raised their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Morgan Stanley downgraded shares of HP from an “overweight” rating to an “equal weight” rating and set a $37.00 price objective on the stock. in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $35.00.

HP Company 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.