HP Inc. (NYSE:HPQ) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in shares of HP Inc. (NYSE:HPQGet Rating) by 10.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,669 shares of the computer maker’s stock after purchasing an additional 11,612 shares during the period. CIBC Asset Management Inc’s holdings in HP were worth $4,634,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Phillips Financial Management LLC acquired a new stake in shares of HP in the 1st quarter worth $333,000. Accuvest Global Advisors acquired a new stake in shares of HP in the 1st quarter worth $257,000. Empirical Asset Management LLC acquired a new stake in shares of HP in the 1st quarter worth $413,000. IFM Investors Pty Ltd lifted its stake in shares of HP by 15.9% in the 1st quarter. IFM Investors Pty Ltd now owns 203,584 shares of the computer maker’s stock worth $7,390,000 after acquiring an additional 27,962 shares during the period. Finally, Affinity Investment Advisors LLC lifted its stake in shares of HP by 7.3% in the 1st quarter. Affinity Investment Advisors LLC now owns 34,766 shares of the computer maker’s stock worth $1,262,000 after acquiring an additional 2,375 shares during the period. Institutional investors and hedge funds own 81.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HPQ. Citigroup raised their price objective on shares of HP from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, June 1st. StockNews.com cut shares of HP from a “buy” rating to a “hold” rating in a research note on Friday. Barclays raised their price objective on shares of HP from $29.00 to $32.00 and gave the company an “underweight” rating in a research note on Wednesday, June 1st. JPMorgan Chase & Co. reduced their price objective on shares of HP from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, July 14th. Finally, UBS Group cut shares of HP from a “buy” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research note on Friday, April 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.69.

HP Price Performance

Shares of NYSE HPQ opened at $33.58 on Friday. The company has a market cap of $34.73 billion, a PE ratio of 6.04, a price-to-earnings-growth ratio of 1.93 and a beta of 0.92. HP Inc. has a 12 month low of $26.11 and a 12 month high of $41.47. The company has a 50-day simple moving average of $34.03 and a 200-day simple moving average of $35.85.

HP (NYSE:HPQGet Rating) last issued its quarterly earnings results on Tuesday, May 31st. The computer maker reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $16.49 billion during the quarter, compared to the consensus estimate of $16.19 billion. HP had a net margin of 9.61% and a negative return on equity of 188.59%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. On average, analysts anticipate that HP Inc. will post 4.3 EPS for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.98%. HP’s dividend payout ratio (DPR) is presently 17.99%.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 34,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $32.67, for a total value of $1,110,780.00. Following the sale, the chief executive officer now directly owns 551,204 shares of the company’s stock, valued at $18,007,834.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Marie Myers sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $33.05, for a total value of $148,725.00. Following the sale, the chief financial officer now directly owns 13,500 shares of the company’s stock, valued at $446,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $1,110,780.00. Following the transaction, the chief executive officer now directly owns 551,204 shares in the company, valued at $18,007,834.68. The disclosure for this sale can be found here. Insiders sold a total of 53,719 shares of company stock worth $1,828,345 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

HP Company Profile

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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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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