HP Inc. $HPQ Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of HP Inc. (NYSE:HPQ) by 1.2% in the 1st quarter, Holdings Channel reports. The fund owned 1,677,428 shares of the computer maker’s stock after selling 20,477 shares during the quarter. California Public Employees Retirement System’s holdings in HP were worth $32,223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of HPQ. Garner Asset Management Corp purchased a new stake in shares of HP during the fourth quarter worth approximately $25,000. Flagship Harbor Advisors LLC purchased a new position in HP in the 4th quarter valued at $26,000. SHP Wealth Management purchased a new position in HP in the 4th quarter valued at $26,000. Union Savings Bank acquired a new position in HP in the 4th quarter valued at $28,000. Finally, DV Equities LLC acquired a new position in HP in the 4th quarter valued at $29,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Trading Up 2.3%

HPQ stock opened at $24.79 on Wednesday. The company’s 50-day moving average price is $23.88 and its 200 day moving average price is $21.13. HP Inc. has a 52 week low of $17.56 and a 52 week high of $29.65. The company has a market cap of $22.67 billion, a P/E ratio of 9.15, a P/E/G ratio of 4.09 and a beta of 1.19.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $13.99 billion. During the same period last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. On average, equities research analysts expect that HP Inc. will post 2.98 earnings per share for the current year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 9th. HP’s dividend payout ratio (DPR) is presently 44.28%.

Insider Buying and Selling at HP

In other news, insider David P. Mcquarrie sold 10,524 shares of HP stock in a transaction on Friday, June 12th. The stock was sold at an average price of $24.68, for a total transaction of $259,732.32. Following the completion of the transaction, the insider owned 92,200 shares of the company’s stock, valued at $2,275,496. The trade was a 10.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HPQ has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of HP from $22.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. The Goldman Sachs Group lifted their target price on shares of HP from $16.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday, June 2nd. UBS Group increased their price target on shares of HP from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Morgan Stanley raised their price objective on shares of HP from $17.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, May 28th. Finally, Barclays lifted their price objective on HP from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $23.33.

About HP

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.