Commerce Bank Has $3 Million Position in HP Inc. (NYSE:HPQ)

Commerce Bank decreased its position in shares of HP Inc. (NYSE:HPQ) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 171,668 shares of the computer maker’s stock after selling 5,956 shares during the period. Commerce Bank’s holdings in HP were worth $3,001,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Trexquant Investment LP bought a new stake in HP in the first quarter worth $833,000. ZWJ Investment Counsel Inc. purchased a new position in HP during the first quarter worth $443,000. Cornerstone Capital Management Holdings LLC. boosted its stake in HP by 106.5% during the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock worth $26,145,000 after buying an additional 754,019 shares during the period. Xact Kapitalforvaltning AB boosted its stake in HP by 2.4% during the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock worth $4,476,000 after buying an additional 6,074 shares during the period. Finally, American Beacon Advisors Inc. purchased a new position in HP during the first quarter worth $112,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

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In other news, Director Margaret C. Whitman sold 73,992 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $17.70, for a total value of $1,309,658.40. Following the sale, the director now directly owns 544,881 shares of the company’s stock, valued at approximately $9,644,393.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Marie Myers sold 12,119 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $18.07, for a total transaction of $218,990.33. Following the completion of the sale, the insider now directly owns 5,621 shares in the company, valued at $101,571.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,725,567 shares of company stock valued at $32,210,686. Company insiders own 0.62% of the company’s stock.

A number of analysts recently weighed in on HPQ shares. UBS AG reiterated a “buy” rating and issued a $22.00 target price (up from $20.00) on shares of HP in a report on Thursday, May 25th. Susquehanna Bancshares Inc reiterated a “hold” rating and issued a $20.00 target price on shares of HP in a report on Friday, August 25th. Jefferies Group LLC restated a “hold” rating and set a $20.00 price objective (up previously from $19.00) on shares of HP in a report on Tuesday, September 5th. Royal Bank Of Canada upgraded shares of HP from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $21.00 to $22.00 in a report on Thursday, July 20th. Finally, BidaskClub lowered HP from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Ten equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.57.

Shares of HP Inc. (NYSE:HPQ) opened at 19.47 on Friday. HP Inc. has a 12 month low of $13.77 and a 12 month high of $19.78. The firm has a market cap of $32.52 billion, a price-to-earnings ratio of 14.15 and a beta of 1.93. The stock’s 50 day moving average price is $19.16 and its 200 day moving average price is $18.40.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The firm had revenue of $13.06 billion during the quarter, compared to analysts’ expectations of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. HP’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 EPS. Equities research analysts predict that HP Inc. will post $1.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Tuesday, September 12th. HP’s payout ratio is presently 38.41%.

HP Profile

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.

Institutional Ownership by Quarter for HP (NYSE:HPQ)

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