Kentucky Retirement Systems Insurance Trust Fund Sells 2,207 Shares of HP Inc. (NYSE:HPQ)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in HP Inc. (NYSE:HPQ) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,776 shares of the computer maker’s stock after selling 2,207 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in HP were worth $870,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of HP by 2.6% in the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after purchasing an additional 3,062,441 shares in the last quarter. LSV Asset Management increased its position in shares of HP by 3.3% in the first quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock valued at $383,028,000 after acquiring an additional 403,355 shares during the last quarter. Northern Trust Corp increased its position in shares of HP by 0.4% in the fourth quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock valued at $306,089,000 after acquiring an additional 40,884 shares during the last quarter. Norges Bank acquired a new stake in shares of HP in the fourth quarter valued at about $187,264,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of HP by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,771,103 shares of the computer maker’s stock valued at $173,652,000 after acquiring an additional 232,515 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on HPQ. UBS Group boosted their price target on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. TD Cowen boosted their price target on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research 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. JPMorgan Chase & Co. boosted their price target on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company boosted their price target on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

HP Stock Performance

Shares of HPQ stock traded down $0.39 during trading on Monday, hitting $35.95. The company had a trading volume of 1,641,492 shares, compared to its average volume of 7,959,980. The firm has a market capitalization of $35.18 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09. The stock’s 50-day moving average price is $35.67 and its 200 day moving average price is $31.48. HP Inc. has a one year low of $25.22 and a one year high of $39.52.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.61 billion. During the same period in the prior year, the business posted $0.80 earnings per share. HP’s quarterly revenue was down .8% on a year-over-year basis. On average, research analysts anticipate that HP Inc. will post 3.45 earnings per share for the current fiscal year.

HP Dividend Announcement

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 issued 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 3.07%. HP’s payout ratio is currently 37.16%.

Insiders Place Their Bets

In other news, insider Alex Cho sold 173,137 shares of the 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 transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.