Comerica Bank Cuts Holdings in HP Inc. (HPQ)

Comerica Bank decreased its position in HP Inc. (NYSE:HPQ) by 18.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 381,549 shares of the computer maker’s stock after selling 85,847 shares during the period. Comerica Bank’s holdings in HP were worth $9,134,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mission Wealth Management LP bought a new stake in HP in the 3rd quarter valued at $737,000. Private Advisor Group LLC raised its stake in HP by 12.9% in the 3rd quarter. Private Advisor Group LLC now owns 95,427 shares of the computer maker’s stock valued at $2,459,000 after acquiring an additional 10,905 shares during the period. Victory Capital Management Inc. raised its stake in HP by 6.5% in the 3rd quarter. Victory Capital Management Inc. now owns 272,760 shares of the computer maker’s stock valued at $7,029,000 after acquiring an additional 16,698 shares during the period. Trilogy Capital Inc. raised its stake in HP by 15.8% in the 3rd quarter. Trilogy Capital Inc. now owns 36,559 shares of the computer maker’s stock valued at $942,000 after acquiring an additional 4,975 shares during the period. Finally, Moody National Bank Trust Division raised its stake in HP by 8.4% in the 3rd quarter. Moody National Bank Trust Division now owns 35,975 shares of the computer maker’s stock valued at $927,000 after acquiring an additional 2,775 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

HPQ has been the topic of a number of research analyst reports. Morgan Stanley dropped their price target on HP from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 4th. Maxim Group increased their price target on HP from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Loop Capital increased their price target on HP to $30.00 and gave the company a “positive” rating in a research note on Thursday, October 4th. Zacks Investment Research cut HP from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Finally, Bank of America increased their price target on HP from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, October 4th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $27.44.

In other news, insider Dion J. Weisler sold 86,389 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $24.80, for a total transaction of $2,142,447.20. Following the sale, the insider now directly owns 815,945 shares of the company’s stock, valued at approximately $20,235,436. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Catherine A. Lesjak sold 693,594 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $25.78, for a total value of $17,880,853.32. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Shares of NYSE HPQ opened at $25.00 on Friday. HP Inc. has a one year low of $19.31 and a one year high of $27.08. The firm has a market capitalization of $39.37 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 1.59 and a beta of 1.50.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, August 23rd. The computer maker reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. HP had a negative return on equity of 130.47% and a net margin of 7.95%. The firm had revenue of $14.59 billion for the quarter, compared to analyst estimates of $14.29 billion. During the same period in the prior year, the firm posted $0.43 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts predict that HP Inc. will post 2.02 earnings per share for the current year.

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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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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