Maryland State Retirement & Pension System Has $1.88 Million Stock Position in HP Inc. (NYSE:HPQ)

Maryland State Retirement & Pension System boosted its stake in HP Inc. (NYSE:HPQ) by 2.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 67,807 shares of the computer maker’s stock after buying an additional 1,833 shares during the period. Maryland State Retirement & Pension System’s holdings in HP were worth $1,877,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of HPQ. Vanguard Group Inc. boosted its holdings in HP by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock valued at $3,019,999,000 after purchasing an additional 12,883,347 shares during the period. Northern Trust Corp lifted its stake in HP by 0.4% in the 4th quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock valued at $306,089,000 after purchasing an additional 40,884 shares during the last quarter. Pacer Advisors Inc. lifted its stake in HP by 4,180.9% in the 4th quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock valued at $286,352,000 after purchasing an additional 9,294,209 shares during the last quarter. Norges Bank bought a new position in HP in the 4th quarter valued at approximately $187,264,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in HP by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,771,103 shares of the computer maker’s stock valued at $173,652,000 after purchasing an additional 232,515 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insiders Place Their Bets

In other HP news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction 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 directly owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of HP from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. UBS Group upped their price target on shares of HP from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Bank of America upped their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Morgan Stanley upped their price target on shares of HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Finally, Barclays upped their price target on shares of HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, HP has an average rating of “Moderate Buy” and an average target price of $34.64.

HP Price Performance

Shares of HPQ traded down $0.22 during trading hours on Friday, hitting $34.63. 538,209 shares of the stock were exchanged, compared to its average volume of 8,167,003. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52. The business has a 50-day moving average of $33.27 and a 200-day moving average of $30.72. The firm has a market capitalization of $33.89 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 2.22 and a beta of 1.09.

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

HP Dividend Announcement

The business 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 $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Wednesday, September 11th. HP’s payout ratio is 37.16%.

About HP

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.