Public Employees Retirement System of Ohio Purchases 8,831 Shares of HP Inc. (NYSE:HPQ)

Public Employees Retirement System of Ohio increased its position in shares of HP Inc. (NYSE:HPQ) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 384,220 shares of the computer maker’s stock after purchasing an additional 8,831 shares during the period. Public Employees Retirement System of Ohio’s holdings in HP were worth $11,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Treasurer of the State of North Carolina increased its holdings in HP by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 401,809 shares of the computer maker’s stock valued at $12,090,000 after acquiring an additional 4,102 shares during the last quarter. Alaska Permanent Fund Corp increased its holdings in HP by 1.4% in the 4th quarter. Alaska Permanent Fund Corp now owns 79,291 shares of the computer maker’s stock valued at $2,386,000 after acquiring an additional 1,091 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in HP by 27.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock valued at $3,213,000 after acquiring an additional 22,909 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in HP by 87.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 765,799 shares of the computer maker’s stock valued at $22,960,000 after acquiring an additional 358,231 shares during the last quarter. Finally, Flputnam Investment Management Co. bought a new stake in HP in the 4th quarter valued at $211,000. 77.53% of the stock is currently owned by institutional investors.

HP Stock Performance

HP stock traded down $0.19 during trading hours on Monday, hitting $36.15. The company had a trading volume of 3,937,501 shares, compared to its average volume of 7,975,924. The firm has a market cap of $35.37 billion, a P/E ratio of 12.20, a P/E/G ratio of 2.31 and a beta of 1.09. HP Inc. has a 1 year low of $25.22 and a 1 year high of $39.52. The company has a 50-day moving average price of $35.67 and a two-hundred day moving average price of $31.48.

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

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be given a $0.2756 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 3.05%. HP’s payout ratio is presently 37.16%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. TD Cowen lifted their price target on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Barclays boosted their target price on shares of HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Bank of America boosted their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Wells Fargo & Company boosted their target price on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, HP presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.64.

Insider Transactions at HP

In other news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the sale, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.

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.