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

CIBC Asset Management Inc lifted its stake in shares of HP Inc. (NYSE:HPQ) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 169,496 shares of the computer maker’s stock after buying an additional 1,963 shares during the quarter. CIBC Asset Management Inc’s holdings in HP were worth $5,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Americana Partners LLC purchased a new position in shares of HP during the fourth quarter valued at about $7,545,000. Hourglass Capital LLC grew its holdings in HP by 3.5% in the fourth quarter. Hourglass Capital LLC now owns 138,005 shares of the computer maker’s stock worth $4,503,000 after purchasing an additional 4,700 shares during the period. Strategic Financial Concepts LLC purchased a new stake in HP in the fourth quarter worth about $639,000. Allworth Financial LP grew its holdings in HP by 7.3% in the fourth quarter. Allworth Financial LP now owns 43,276 shares of the computer maker’s stock worth $1,434,000 after purchasing an additional 2,962 shares during the period. Finally, Principal Securities Inc. grew its holdings in HP by 20.3% in the fourth quarter. Principal Securities Inc. now owns 18,613 shares of the computer maker’s stock worth $607,000 after purchasing an additional 3,146 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 10,298 shares of HP stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the sale, the insider now directly owns 64,676 shares in the company, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the sale, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,035 shares of company stock worth $9,670,068. Insiders own 0.41% of the company’s stock.

HP Price Performance

Shares of NYSE HPQ opened at $34.72 on Thursday. The firm has a fifty day moving average price of $33.10 and a 200-day moving average price of $34.81. The stock has a market cap of $32.56 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 earnings per share. On average, research analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 3.33%. HP’s dividend payout ratio is currently 41.28%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HPQ shares. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. TD Cowen upped their price objective on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. cut their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. HSBC cut shares of HP from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Sanford C. Bernstein increased their price target on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.23.

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.