Commerce Bank Takes $2.08 Million Position in HP Inc. $HPQ

Commerce Bank bought a new position in shares of HP Inc. (NYSE:HPQ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 94,555 shares of the computer maker’s stock, valued at approximately $2,075,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. bought a new position in shares of HP during the 2nd quarter worth approximately $991,000. Quantbot Technologies LP acquired a new position in shares of HP during the 2nd quarter valued at $1,057,000. Chou Associates Management Inc. bought a new position in HP during the second quarter worth $581,000. Varma Mutual Pension Insurance Co acquired a new stake in HP in the second quarter worth $8,123,000. Finally, Westpac Banking Corp bought a new stake in HP in the second quarter valued at $135,000. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Price Performance

Shares of HP stock opened at $29.56 on Wednesday. The firm has a market cap of $27.04 billion, a PE ratio of 10.91, a P/E/G ratio of 4.74 and a beta of 1.17. HP Inc. has a 1 year low of $17.56 and a 1 year high of $32.19. The stock has a fifty day moving average price of $25.96 and a 200-day moving average price of $22.55.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.14. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The company had revenue of $14.41 billion during the quarter, compared to analyst estimates of $13.99 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities analysts anticipate that HP Inc. will post 3.03 EPS for the current fiscal year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.20 annualized dividend and a yield of 4.1%. HP’s dividend payout ratio (DPR) is 44.28%.

Wall Street Analyst Weigh In

HPQ has been the subject of several research reports. Barclays raised their target price on HP from $16.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded HP from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company boosted their price objective on HP from $18.00 to $20.00 and gave the company an “underweight” rating in a report on Thursday, May 28th. Morgan Stanley cut their target price on HP from $19.00 to $17.00 and set an “underweight” rating on the stock in a report on Monday. Finally, UBS Group boosted their price target on shares of HP from $20.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $24.17.

Insider Buying and Selling at HP

In other news, insider David P. Mcquarrie sold 21,048 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $29.98, for a total value of $631,019.04. Following the sale, the insider owned 39,580 shares of the company’s stock, valued at $1,186,608.40. The trade was a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,620 shares of company stock valued at $1,478,622 in the last three months. 0.18% of the stock is owned by company insiders.

HP Profile

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett?Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.