Commerce Bank Has $9.39 Million Holdings in HP Inc. (NYSE:HPQ)

Commerce Bank reduced its holdings in HP Inc. (NYSE:HPQ) by 20.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,547 shares of the computer maker’s stock after selling 81,746 shares during the quarter. Commerce Bank’s holdings in HP were worth $9,385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Whittier Trust Co. increased its position in shares of HP by 1.4% in the 4th quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock valued at $778,000 after buying an additional 362 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of HP by 47.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after buying an additional 380 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of HP by 18.8% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker’s stock valued at $73,000 after buying an additional 382 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in shares of HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after buying an additional 397 shares in the last quarter. Finally, Gables Capital Management Inc. increased its position in shares of HP by 7.9% in the 4th quarter. Gables Capital Management Inc. now owns 5,450 shares of the computer maker’s stock valued at $164,000 after buying an additional 400 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 173,137 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America increased their target price on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. UBS Group increased their target price on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Wells Fargo & Company increased their target price on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Finally, Barclays increased their price objective on shares of HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. One 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.64.

HP Stock Performance

NYSE:HPQ traded up $0.61 during mid-day trading on Wednesday, hitting $36.03. The stock had a trading volume of 2,436,239 shares, compared to its average volume of 8,116,826. HP Inc. has a twelve month low of $25.22 and a twelve month high of $39.52. The stock has a market cap of $35.26 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.25 and a beta of 1.09. The company’s 50 day simple moving average is $33.69 and its 200 day simple moving average is $30.84.

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

HP Announces Dividend

The business also recently declared 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 of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a yield of 3.06%. HP’s dividend payout ratio is currently 37.16%.

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.