Texas Permanent School Fund Has $8.847 Million Stake in HP Inc (HPQ)

Texas Permanent School Fund lowered its position in shares of HP Inc (NYSE:HPQ) by 3.5% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 494,775 shares of the computer maker’s stock after selling 17,739 shares during the period. Texas Permanent School Fund’s holdings in HP were worth $8,847,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Dodge & Cox acquired a new stake in HP during the fourth quarter worth $2,073,164,000. Cantab Capital Partners LLP boosted its stake in HP by 24.1% in the fourth quarter. Cantab Capital Partners LLP now owns 124,681 shares of the computer maker’s stock worth $1,850,000 after buying an additional 24,218 shares in the last quarter. First Manhattan Co. boosted its stake in HP by 119.5% in the first quarter. First Manhattan Co. now owns 18,371 shares of the computer maker’s stock worth $285,000 after buying an additional 10,000 shares in the last quarter. Cadence Capital Management LLC boosted its stake in HP by 10.0% in the fourth quarter. Cadence Capital Management LLC now owns 294,085 shares of the computer maker’s stock worth $4,364,000 after buying an additional 26,684 shares in the last quarter. Finally, Oribel Capital Management LP acquired a new stake in HP during the fourth quarter worth $1,744,000. 78.94% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for HP (NYSE:HPQ)

HP Inc (NYSE:HPQ) traded down 3.37% during mid-day trading on Thursday, hitting $18.37. The company’s stock had a trading volume of 21,252,784 shares. The firm has a market cap of $31.11 billion, a price-to-earnings ratio of 12.53 and a beta of 1.52. HP Inc has a 52-week low of $11.40 and a 52-week high of $19.58. The firm has a 50 day moving average of $18.63 and a 200-day moving average of $16.62. HP also saw unusually large options trading activity on Monday. Stock traders purchased 14,623 put options on the company. This is an increase of approximately 936% compared to the average volume of 1,412 put options.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. HP had a net margin of 5.17% and a negative return on equity of 63.67%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, equities research analysts expect that HP Inc will post $1.62 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be given a dividend of $0.1327 per share. The ex-dividend date is Monday, June 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.89%. HP’s dividend payout ratio (DPR) is presently 37.32%.

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A number of brokerages have commented on HPQ. Citigroup Inc set a $20.00 price objective on HP and gave the company a “buy” rating in a research report on Thursday. BMO Capital Markets reiterated a “hold” rating and issued a $20.00 price objective on shares of HP in a research report on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $20.00 price objective (up from $18.00) on shares of HP in a research report on Friday, May 19th. Zacks Investment Research lowered HP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, Barclays PLC upgraded HP from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $17.00 to $22.00 in a research report on Wednesday, April 19th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.54.

In other news, insider Tracy S. Keogh sold 113,582 shares of the stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $17.43, for a total transaction of $1,979,734.26. Following the transaction, the insider now owns 96,926 shares of the company’s stock, valued at approximately $1,689,420.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ron Coughlin sold 10,000 shares of the stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $18.14, for a total transaction of $181,400.00. Following the transaction, the insider now directly owns 61,745 shares in the company, valued at approximately $1,120,054.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,093,741 shares of company stock worth $19,482,770 in the last three months. Insiders own 0.51% of the company’s stock.

About HP

HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.

12 Month Chart for NYSE:HPQ

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