NJ State Employees Deferred Compensation Plan Has $524,000 Position in HP Inc. (HPQ)

NJ State Employees Deferred Compensation Plan held its stake in shares of HP Inc. (NYSE:HPQ) during the second quarter, Holdings Channel reports. The fund owned 30,000 shares of the computer maker’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in HP were worth $524,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. American Beacon Advisors Inc. bought a new stake in shares of HP during the first quarter worth $112,000. YorkBridge Wealth Partners LLC boosted its stake in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock worth $118,000 after buying an additional 675 shares during the period. CWM LLC boosted its stake in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock worth $115,000 after buying an additional 20 shares during the period. First Command Bank boosted its stake in shares of HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock worth $118,000 after buying an additional 2,984 shares during the period. Finally, TrimTabs Asset Management LLC boosted its stake in shares of HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock worth $124,000 after buying an additional 3,264 shares during the period. Hedge funds and other institutional investors own 78.97% of the company’s stock.

Shares of HP Inc. (NYSE HPQ) opened at 19.32 on Tuesday. The firm has a market capitalization of $32.52 billion, a price-to-earnings ratio of 13.66 and a beta of 1.90. HP Inc. has a 12-month low of $13.55 and a 12-month high of $19.58. The company’s 50-day moving average price is $18.17 and its 200 day moving average price is $17.62.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, equities research analysts forecast that HP Inc. will post $1.64 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 2.75%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is presently 37.32%.

A number of equities research analysts recently weighed in on the company. UBS AG restated a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of HP in a research note on Thursday, May 25th. BidaskClub cut HP from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada restated a “hold” rating and set a $21.00 price objective on shares of HP in a research note on Friday, July 14th. Citigroup Inc. set a $20.00 price objective on HP and gave the stock a “buy” rating in a research note on Thursday, May 25th. Finally, Mizuho upgraded HP from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $21.00 in a research note on Monday, July 10th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $19.89.

In related news, COO Jon E. Flaxman sold 35,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $18.26, for a total value of $639,100.00. Following the transaction, the chief operating officer now owns 62,203 shares in the company, valued at approximately $1,135,826.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Margaret C. Whitman sold 73,992 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $17.72, for a total value of $1,311,138.24. Following the completion of the transaction, the director now owns 544,881 shares in the company, valued at approximately $9,655,291.32. The disclosure for this sale can be found here. Insiders sold a total of 1,748,815 shares of company stock worth $32,623,560 in the last 90 days. 0.62% of the stock is currently owned by insiders.

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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