HP Inc. (NYSE:HPQ) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its position in shares of HP Inc. (NYSE:HPQ) by 21.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,361 shares of the computer maker’s stock after selling 38,888 shares during the quarter. Texas Permanent School Fund Corp’s holdings in HP were worth $4,950,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Treasurer of the State of North Carolina raised its stake in HP by 1.0% during the fourth 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 buying an additional 4,102 shares in the last quarter. Chris Bulman Inc acquired a new stake in HP during the second quarter valued at approximately $88,000. Daiwa Securities Group Inc. raised its stake in HP by 27.5% during the first quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock valued at $3,213,000 after buying an additional 22,909 shares in the last quarter. State of Alaska Department of Revenue raised its stake in HP by 85.9% during the first quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock valued at $5,275,000 after buying an additional 80,670 shares in the last quarter. Finally, Swiss National Bank raised its stake in HP by 1.4% during the first quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock valued at $85,193,000 after buying an additional 37,800 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 173,137 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the transaction, the insider now directly 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 SEC, which is accessible through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on HPQ. JPMorgan Chase & Co. upped their target price on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Barclays lowered their target price on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Loop Capital lowered their target price on HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company upped their target price on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Finally, Bank of America upped their target price on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.55.

HP Price Performance

Shares of HPQ stock opened at $33.11 on Friday. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The firm has a market capitalization of $32.40 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 2.26 and a beta of 1.07. The business has a 50 day simple moving average of $35.32 and a 200 day simple moving average of $32.79.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 earnings per share. On average, equities analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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.