Canada Pension Plan Investment Board Reduces Stake in HP Inc. (NYSE:HPQ)

Canada Pension Plan Investment Board lowered its position in HP Inc. (NYSE:HPQ) by 8.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,491,365 shares of the computer maker’s stock after selling 222,700 shares during the period. Canada Pension Plan Investment Board’s holdings in HP were worth $43,549,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of HP by 1.8% in the first quarter. Vanguard Group Inc. now owns 121,687,604 shares of the computer maker’s stock worth $2,175,775,000 after buying an additional 2,122,269 shares during the period. State Street Corp increased its stake in shares of HP by 0.7% in the first quarter. State Street Corp now owns 79,522,135 shares of the computer maker’s stock worth $1,421,893,000 after buying an additional 515,648 shares during the period. Primecap Management Co. CA increased its stake in shares of HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock worth $1,141,660,000 after buying an additional 2,163,147 shares during the period. American International Group Inc. increased its stake in shares of HP by 1.6% in the first quarter. American International Group Inc. now owns 29,056,041 shares of the computer maker’s stock worth $519,522,000 after buying an additional 457,514 shares during the period. Finally, LSV Asset Management increased its stake in shares of HP by 4.8% in the first quarter. LSV Asset Management now owns 13,611,654 shares of the computer maker’s stock worth $243,376,000 after buying an additional 621,847 shares during the period. Institutional investors own 78.97% of the company’s stock.

HP Inc. (NYSE:HPQ) opened at 18.90 on Friday. The firm has a market capitalization of $31.82 billion, a PE ratio of 13.37 and a beta of 1.90. HP Inc. has a 52-week low of $13.55 and a 52-week high of $19.58. The stock’s 50 day moving average is $18.53 and its 200-day moving average is $17.82.

HP (NYSE:HPQ) last released its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. Equities analysts expect that HP Inc. will post $1.64 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.81%. HP’s payout ratio is 37.32%.

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A number of equities research analysts have recently commented on HPQ shares. Barclays PLC upgraded shares of HP from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $17.00 to $22.00 in a report on Wednesday, April 19th. Stifel Nicolaus reiterated a “hold” rating and set a $14.00 price target on shares of HP in a report on Friday, May 26th. Zacks Investment Research downgraded shares of HP from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Jefferies Group LLC lifted their price target on shares of HP from $18.00 to $18.75 and gave the stock a “hold” rating in a report on Tuesday, July 18th. Finally, Bank of America Corporation lifted their price target on shares of HP from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $19.89.

In other news, Director Margaret C. Whitman sold 221,960 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total transaction of $4,297,145.60. Following the completion of the sale, the director now directly owns 692,849 shares in the company, valued at approximately $13,413,556.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Margaret C. Whitman sold 443,920 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total value of $8,576,534.40. Following the sale, the director now owns 692,849 shares of the company’s stock, valued at $13,385,842.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,748,815 shares of company stock valued at $32,623,560. Corporate insiders own 0.62% of the company’s stock.

About HP

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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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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