California Public Employees Retirement System Has $197.95 Million Stock Holdings in HP Inc. (NYSE:HPQ)

California Public Employees Retirement System trimmed its holdings in HP Inc. (NYSE:HPQ - Free Report) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,066,488 shares of the computer maker's stock after selling 120,573 shares during the quarter. California Public Employees Retirement System owned 0.65% of HP worth $197,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Synergy Asset Management LLC bought a new position in HP during the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of HP during the 4th quarter worth approximately $31,000. OFI Invest Asset Management acquired a new position in shares of HP in the fourth quarter valued at $37,000. Itau Unibanco Holding S.A. bought a new position in HP in the third quarter worth $40,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in HP during the fourth quarter worth $50,000. Institutional investors and hedge funds own 77.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HPQ shares. Wells Fargo & Company increased their price objective on shares of HP from $30.00 to $35.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. StockNews.com upgraded shares of HP from a "hold" rating to a "buy" rating in a research note on Thursday, March 27th. Barclays upped their price objective on HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. Morgan Stanley cut their target price on HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Finally, Sanford C. Bernstein boosted their price target on HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $36.14.

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HP Stock Down 5.0 %

HPQ traded down $1.20 during trading on Friday, hitting $22.58. The company's stock had a trading volume of 22,862,599 shares, compared to its average volume of 7,599,953. The stock has a market capitalization of $21.29 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The firm's 50 day moving average price is $30.78 and its two-hundred day moving average price is $33.72. HP Inc. has a 12 month low of $21.97 and a 12 month high of $39.80.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.35 billion. On average, sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.2894 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 5.13%. HP's dividend payout ratio (DPR) is currently 41.37%.

Insider Activity

In other HP news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the sale, the insider now directly owns 169 shares of the company's stock, valued at $4,814.81. This trade represents a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

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.