Cadence Bank Has $975,000 Stock Holdings in HP Inc. (NYSE:HPQ)

Cadence Bank lessened its position in shares of HP Inc. (NYSE:HPQ) by 8.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,256 shares of the computer maker’s stock after selling 2,972 shares during the quarter. Cadence Bank’s holdings in HP were worth $975,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of HP in the fourth quarter valued at about $187,264,000. Vanguard Group Inc. lifted its stake in shares of HP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after buying an additional 3,062,441 shares during the last quarter. Schroder Investment Management Group grew its position in shares of HP by 1,472.4% in the fourth quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock valued at $68,126,000 after purchasing an additional 2,120,096 shares during the last quarter. California Public Employees Retirement System increased its position in HP by 69.6% during the 4th quarter. California Public Employees Retirement System now owns 5,030,982 shares of the computer maker’s stock worth $151,382,000 after buying an additional 2,064,869 shares during the period. Finally, DAVENPORT & Co LLC boosted its position in shares of HP by 10,188.2% in the first quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock valued at $53,680,000 after acquiring an additional 1,760,631 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on HPQ shares. Morgan Stanley boosted their price objective on shares of HP from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Bank of America boosted their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. UBS Group raised their price objective on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. TD Cowen upped their target price on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company raised their price target on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.64.

HP Price Performance

NYSE:HPQ traded up $0.09 during trading hours on Friday, hitting $36.34. The company’s stock had a trading volume of 7,184,349 shares, compared to its average volume of 8,004,163. The stock has a fifty day simple moving average of $35.57 and a 200-day simple moving average of $31.42. The company has a market capitalization of $35.56 billion, a P/E ratio of 12.27, a PEG ratio of 2.41 and a beta of 1.09. HP Inc. has a twelve month low of $25.22 and a twelve month high of $39.52.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.61 billion. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted $0.80 earnings per share. On average, equities analysts predict that HP Inc. will post 3.45 EPS for the current fiscal year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be issued a $0.2756 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a yield of 3.03%. HP’s payout ratio is presently 37.16%.

Insider Transactions at HP

In other HP news, insider Alex Cho sold 173,137 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares in the company, valued at approximately $2,335,450.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.41% of the company’s stock.

About HP

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.