Cibc World Markets Corp Grows Position in HP Inc. (NYSE:HPQ)

Cibc World Markets Corp grew its stake in shares of HP Inc. (NYSE:HPQ) by 14.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 152,082 shares of the computer maker’s stock after buying an additional 19,238 shares during the quarter. Cibc World Markets Corp’s holdings in HP were worth $4,962,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. lifted its stake in HP by 17.7% in the fourth quarter. Harbour Investments Inc. now owns 3,236 shares of the computer maker’s stock worth $106,000 after acquiring an additional 487 shares during the period. Gitterman Wealth Management LLC lifted its stake in HP by 94.7% in the fourth quarter. Gitterman Wealth Management LLC now owns 16,396 shares of the computer maker’s stock worth $535,000 after acquiring an additional 7,973 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in HP by 1.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 100,821 shares of the computer maker’s stock worth $3,290,000 after acquiring an additional 1,314 shares during the period. Frank Rimerman Advisors LLC lifted its stake in HP by 3.7% in the fourth quarter. Frank Rimerman Advisors LLC now owns 15,597 shares of the computer maker’s stock worth $509,000 after acquiring an additional 558 shares during the period. Finally, First National Trust Co lifted its stake in HP by 266.1% in the fourth quarter. First National Trust Co now owns 38,655 shares of the computer maker’s stock worth $1,261,000 after acquiring an additional 28,097 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In related news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HPQ. Barclays raised their price target on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Loop Capital lowered their price objective on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. HSBC lowered HP from a “buy” rating to a “hold” rating and lowered their price objective for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Sanford C. Bernstein raised their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.14.

HP Price Performance

Shares of NYSE:HPQ opened at $28.76 on Thursday. HP Inc. has a 1-year low of $27.43 and a 1-year high of $39.80. The business has a fifty day moving average price of $32.07 and a 200-day moving average price of $34.28. The company has a market capitalization of $27.11 billion, a PE ratio of 10.23, a PEG ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. On average, sell-side analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.03%. HP’s payout ratio is 41.37%.

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.