CIBC Asset Management Inc Increases Position in HP Inc. (NYSE:HPQ)

CIBC Asset Management Inc boosted its holdings in shares of HP Inc. (NYSE:HPQGet Rating) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,669 shares of the computer maker’s stock after acquiring an additional 11,612 shares during the period. CIBC Asset Management Inc’s holdings in HP were worth $4,634,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HPQ. Central Bank & Trust Co. purchased a new stake in HP during the 1st quarter valued at about $25,000. Allegheny Financial Group LTD purchased a new stake in HP during the 4th quarter valued at about $30,000. Blue Bell Private Wealth Management LLC grew its stake in HP by 175.4% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 917 shares of the computer maker’s stock valued at $33,000 after acquiring an additional 584 shares in the last quarter. Cyrus J. Lawrence LLC purchased a new stake in HP during the 1st quarter valued at about $35,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in HP by 272.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,095 shares of the computer maker’s stock valued at $40,000 after acquiring an additional 801 shares in the last quarter. Hedge funds and other institutional investors own 81.94% of the company’s stock.

HP Stock Up 1.0 %

Shares of HPQ opened at $33.58 on Friday. HP Inc. has a fifty-two week low of $26.11 and a fifty-two week high of $41.47. The firm’s 50 day moving average price is $34.03 and its 200 day moving average price is $35.85. The company has a market cap of $34.73 billion, a P/E ratio of 6.04, a PEG ratio of 1.93 and a beta of 0.92.

HP (NYSE:HPQGet Rating) last announced its earnings results on Tuesday, May 31st. The computer maker reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.02. HP had a net margin of 9.61% and a negative return on equity of 188.59%. The firm had revenue of $16.49 billion for the quarter, compared to the consensus estimate of $16.19 billion. During the same period in the prior year, the firm earned $0.93 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Research analysts forecast that HP Inc. will post 4.3 earnings per share for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Tuesday, September 13th. HP’s payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

HPQ has been the topic of several recent analyst reports. Barclays boosted their target price on shares of HP from $29.00 to $32.00 and gave the company an “underweight” rating in a report on Wednesday, June 1st. UBS Group lowered shares of HP from a “buy” rating to a “neutral” rating and set a $40.00 target price on the stock. in a report on Friday, April 8th. StockNews.com lowered shares of HP from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. decreased their target price on shares of HP from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, July 14th. Finally, Citigroup boosted their target price on shares of HP from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, June 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.69.

Insider Buying and Selling

In related news, CFO Marie Myers sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $39.91, for a total transaction of $179,595.00. Following the sale, the chief financial officer now directly owns 28,719 shares of the company’s stock, valued at approximately $1,146,175.29. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other HP news, CEO Enrique Lores sold 34,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $32.67, for a total value of $1,110,780.00. Following the sale, the chief executive officer now directly owns 551,204 shares of the company’s stock, valued at approximately $18,007,834.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Marie Myers sold 4,500 shares of the stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $39.91, for a total transaction of $179,595.00. Following the completion of the sale, the chief financial officer now directly owns 28,719 shares in the company, valued at $1,146,175.29. The disclosure for this sale can be found here. Insiders have sold a total of 53,719 shares of company stock valued at $1,828,345 in the last ninety days. Company insiders own 0.22% of the company’s stock.

HP Company Profile

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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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