Public Sector Pension Investment Board Has $1.53 Million Stock Holdings in HP Inc. (NYSE:HPQ)

Public Sector Pension Investment Board lifted its stake in HP Inc. (NYSE:HPQ - Free Report) by 136.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,578 shares of the computer maker's stock after purchasing an additional 24,600 shares during the quarter. Public Sector Pension Investment Board's holdings in HP were worth $1,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of HPQ. Wedge Capital Management L L P NC acquired a new stake in shares of HP during the second quarter worth approximately $62,672,000. DME Capital Management LP boosted its stake in shares of HP by 108.7% during the 2nd quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker's stock valued at $118,124,000 after buying an additional 1,757,070 shares during the period. Pacer Advisors Inc. grew its holdings in shares of HP by 11.4% during the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker's stock valued at $508,791,000 after acquiring an additional 1,455,138 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker's stock worth $786,237,000 after acquiring an additional 1,319,731 shares during the last quarter. Finally, Bridgewater Associates LP raised its holdings in shares of HP by 2,649.5% during the third quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker's stock worth $47,298,000 after acquiring an additional 1,270,642 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Stock Performance

Shares of HPQ stock traded up $0.03 during mid-day trading on Friday, reaching $36.20. The company's stock had a trading volume of 6,583,550 shares, compared to its average volume of 8,358,639. The firm's 50-day moving average is $36.63 and its two-hundred day moving average is $35.75. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The company has a market cap of $34.89 billion, a P/E ratio of 12.88, a PEG ratio of 3.10 and a beta of 1.04.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 earnings per share. Sell-side analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a dividend of $0.2894 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from HP's previous quarterly dividend of $0.28. HP's dividend payout ratio (DPR) is 39.15%.

HP declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their target price on HP from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. Hsbc Global Res cut shares of HP from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 29th. Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, September 5th. Morgan Stanley lowered their target price on shares of HP from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 29th. Finally, HSBC cut HP from a "buy" rating to a "hold" rating and reduced their price target for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, HP currently has an average rating of "Hold" and a consensus price target of $36.77.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the transaction, the chief executive officer now owns 3 shares of the company's stock, valued at approximately $99.48. The trade was a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alex Cho sold 10,298 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the sale, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently 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.