CIBC World Markets Inc. Boosts Position in HP Inc. (HPQ)

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CIBC World Markets Inc. boosted its holdings in shares of HP Inc. (NYSE:HPQ) by 342.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,797 shares of the computer maker’s stock after purchasing an additional 111,275 shares during the period. CIBC World Markets Inc.’s holdings in HP were worth $3,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bedel Financial Consulting Inc. acquired a new position in HP during the first quarter valued at $105,000. Rockefeller Capital Management L.P. acquired a new position in HP during the first quarter valued at $106,000. BB&T Investment Services Inc. lifted its position in HP by 94.0% during the fourth quarter. BB&T Investment Services Inc. now owns 5,038 shares of the computer maker’s stock valued at $108,000 after purchasing an additional 2,441 shares during the period. Pinnacle Wealth Planning Services Inc. acquired a new position in HP during the fourth quarter valued at $111,000. Finally, Virtue Capital Management LLC acquired a new position in HP during the fourth quarter valued at $117,000. Institutional investors own 79.91% of the company’s stock.

HPQ has been the subject of a number of research reports. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Thursday, May 31st. ValuEngine downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 27th. Susquehanna Bancshares set a $22.00 target price on shares of HP and gave the company a “hold” rating in a research report on Wednesday, May 30th. Morgan Stanley boosted their target price on shares of HP from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 30th. Finally, JPMorgan Chase & Co. set a $28.00 target price on shares of HP and gave the company a “buy” rating in a research report on Wednesday, May 30th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $24.47.

HPQ stock opened at $23.80 on Monday. The stock has a market cap of $37.85 billion, a PE ratio of 14.42, a P/E/G ratio of 1.80 and a beta of 1.62. The company has a debt-to-equity ratio of -2.41, a current ratio of 0.84 and a quick ratio of 0.60. HP Inc. has a 52 week low of $17.10 and a 52 week high of $24.75.

HP (NYSE:HPQ) last released its earnings results on Tuesday, May 29th. The computer maker reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $14.00 million during the quarter, compared to analysts’ expectations of $13.57 billion. HP had a net margin of 7.84% and a negative return on equity of 99.90%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. equities analysts anticipate that HP Inc. will post 2 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Wednesday, September 12th will be paid a dividend of $0.1393 per share. The ex-dividend date of this dividend is Tuesday, September 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.34%. HP’s dividend payout ratio is currently 33.94%.

In other news, insider Tracy S. Keogh sold 117,276 shares of the business’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $23.00, for a total transaction of $2,697,348.00. Following the completion of the sale, the insider now owns 340,453 shares of the company’s stock, valued at $7,830,419. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tracy S. Keogh sold 117,275 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $24.00, for a total transaction of $2,814,600.00. Following the sale, the insider now directly owns 243,526 shares of the company’s stock, valued at approximately $5,844,624. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

HP Company 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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