Commerce Bank Acquires New Holdings in HP Inc. $HPQ

Commerce Bank acquired a new position in HP Inc. (NYSE:HPQ) during the second quarter, Holdings Channel reports. The firm acquired 94,555 shares of the computer maker’s stock, valued at approximately $2,075,000.

Other institutional investors also recently modified their holdings of the company. IHT Wealth Management LLC increased its holdings in shares of HP by 3.3% in the 2nd quarter. IHT Wealth Management LLC now owns 12,470 shares of the computer maker’s stock worth $305,000 after buying an additional 398 shares during the last quarter. Vident Advisory LLC increased its stake in HP by 0.6% in the second quarter. Vident Advisory LLC now owns 69,579 shares of the computer maker’s stock valued at $1,702,000 after acquiring an additional 444 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in HP by 10.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 5,020 shares of the computer maker’s stock valued at $110,000 after purchasing an additional 467 shares in the last quarter. Vise Technologies Inc. lifted its stake in HP by 2.4% during the third quarter. Vise Technologies Inc. now owns 20,531 shares of the computer maker’s stock worth $559,000 after purchasing an additional 477 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its holdings in shares of HP by 0.6% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 80,784 shares of the computer maker’s stock worth $1,772,000 after purchasing an additional 491 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other HP news, insider David P. Mcquarrie sold 21,048 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $29.98, for a total value of $631,019.04. Following the completion of the transaction, the insider owned 39,580 shares in the company, valued at approximately $1,186,608.40. This represents a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,620 shares of company stock valued at $1,478,622 over the last 90 days. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays raised their price objective on HP from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, May 28th. UBS Group lifted their price target on shares of HP from $20.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. upped their price objective on shares of HP from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Bank of America increased their target price on shares of HP from $16.00 to $18.00 and gave the company an “underperform” rating in a report on Thursday, May 28th. Finally, The Goldman Sachs Group lifted their price target on HP from $19.00 to $21.00 and gave the stock a “sell” rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, HP currently has a consensus rating of “Reduce” and an average price target of $24.17.

HP Price Performance

HPQ stock opened at $29.56 on Wednesday. The firm has a 50-day moving average of $25.96 and a 200 day moving average of $22.55. The company has a market cap of $27.04 billion, a P/E ratio of 10.91, a PEG 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.

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

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, September 9th. This represents a $1.20 annualized dividend and a dividend yield of 4.1%. HP’s payout ratio is currently 44.28%.

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.