M&T Bank Corp Sells 1,640 Shares of HP Inc. (NYSE:HPQ)

M&T Bank Corp reduced its stake in HP Inc. (NYSE:HPQ) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,767 shares of the computer maker’s stock after selling 1,640 shares during the period. M&T Bank Corp’s holdings in HP were worth $4,659,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Assetmark Inc. boosted its holdings in shares of HP by 3.8% in the fourth quarter. Assetmark Inc. now owns 137,278 shares of the computer maker’s stock worth $4,479,000 after acquiring an additional 5,009 shares during the period. Cookson Peirce & Co. Inc. boosted its holdings in shares of HP by 7.1% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 25,446 shares of the computer maker’s stock worth $830,000 after acquiring an additional 1,687 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in HP by 18.5% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 138,272 shares of the computer maker’s stock valued at $4,512,000 after buying an additional 21,613 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in HP by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock valued at $222,985,000 after buying an additional 90,606 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in HP by 1.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 28,281 shares of the computer maker’s stock valued at $923,000 after buying an additional 354 shares during the period. 77.53% of the stock is owned by institutional investors.

HP Trading Up 2.0 %

HPQ opened at $30.56 on Friday. The company has a market cap of $28.80 billion, a P/E ratio of 10.87, a P/E/G ratio of 2.96 and a beta of 1.09. The business’s 50-day moving average price is $32.76 and its 200-day moving average price is $34.65. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. Equities research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. 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 3.79%. HP’s dividend payout ratio is presently 41.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. HSBC lowered HP from a “buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Sanford C. Bernstein lifted their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. dropped their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Loop Capital dropped their price objective on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.14.

Insider Activity at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the sale, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 262,737 shares of company stock worth $9,316,641 in the last 90 days. Company insiders own 0.38% of the company’s stock.

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.