State Board of Administration of Florida Retirement System lessened its stake in shares of HP Inc. (NYSE:HPQ) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,538,362 shares of the computer maker’s stock after selling 60,430 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.15% of HP worth $50,666,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HPQ. Tudor Investment Corp ET AL bought a new stake in shares of HP during the 1st quarter worth about $225,000. American Beacon Advisors Inc. bought a new stake in shares of HP during the 1st quarter worth about $112,000. Bank of Nova Scotia boosted its stake in shares of HP by 929.0% during the 1st quarter. Bank of Nova Scotia now owns 397,495 shares of the computer maker’s stock worth $7,107,000 after acquiring an additional 358,867 shares in the last quarter. Achmea Investment Management B.V. bought a new stake in shares of HP during the 1st quarter worth about $6,419,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of HP during the 1st quarter worth about $79,108,000. Institutional investors own 79.21% of the company’s stock.
In other HP news, insider Enrique Lores sold 40,965 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $21.50, for a total value of $880,747.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dion J. Weisler sold 95,521 shares of the stock in a transaction on Monday, September 25th. The shares were sold at an average price of $19.97, for a total value of $1,907,554.37. Following the completion of the transaction, the chief executive officer now owns 435,018 shares in the company, valued at $8,687,309.46. The disclosure for this sale can be found here. Insiders sold a total of 1,206,355 shares of company stock worth $24,141,327 over the last quarter. Corporate insiders own 0.62% of the company’s stock.
HP Inc. (NYSE:HPQ) remained flat at $$21.47 during midday trading on Friday. The company had a trading volume of 7,709,603 shares, compared to its average volume of 10,360,000. The firm has a market capitalization of $35.86 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 3.18 and a beta of 1.84. HP Inc. has a 1-year low of $14.40 and a 1-year high of $22.31. The company has a debt-to-equity ratio of -1.55, a quick ratio of 0.74 and a current ratio of 0.97.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The business had revenue of $13.06 billion for the quarter, compared to analyst estimates of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. HP’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 EPS. equities analysts predict that HP Inc. will post 1.65 EPS for the current year.
HPQ has been the subject of several recent analyst reports. Maxim Group restated a “hold” rating and set a $25.00 target price on shares of HP in a research note on Friday, October 27th. Royal Bank Of Canada increased their target price on HP from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, October 18th. Deutsche Bank AG restated a “buy” rating on shares of HP in a research note on Thursday, August 24th. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Wednesday, July 12th. Finally, Morgan Stanley increased their target price on HP from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $21.57.
HP Company Profile
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.
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