Commerce Bank Decreases Stock Holdings in HP Inc. (NYSE:HPQ)

Commerce Bank reduced its holdings in HP Inc. (NYSE:HPQ) by 5.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 367,365 shares of the computer maker’s stock after selling 20,471 shares during the period. Commerce Bank’s holdings in HP were worth $11,987,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in HP in the fourth quarter worth about $229,320,000. KBC Group NV boosted its holdings in shares of HP by 145.1% in the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after purchasing an additional 2,105,104 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of HP during the 4th quarter valued at approximately $65,260,000. Bridgewater Associates LP raised its holdings in HP by 115.2% during the 4th quarter. Bridgewater Associates LP now owns 2,837,252 shares of the computer maker’s stock valued at $92,580,000 after buying an additional 1,518,653 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in HP in the fourth quarter worth $36,492,000. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Cowen cut their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Morgan Stanley cut their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Loop Capital decreased their price objective on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. Citigroup cut their target price on HP from $36.50 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Wells Fargo & Company raised their price target on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $34.00.

HP Trading Up 1.3 %

Shares of HP stock opened at $23.77 on Friday. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.80. The stock’s fifty day moving average price is $28.56 and its 200-day moving average price is $32.74. The firm has a market cap of $22.41 billion, a P/E ratio of 8.46, a P/E/G ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. Analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 4.87%. HP’s dividend payout ratio is presently 41.37%.

Insider Activity

In related news, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now directly owns 169 shares in the company, valued at $4,814.81. The trade was a 99.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

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.