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

Cibc World Markets Corp raised its holdings in shares of HP Inc. (NYSE:HPQ) by 14.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152,082 shares of the computer maker’s stock after purchasing an additional 19,238 shares during the quarter. Cibc World Markets Corp’s holdings in HP were worth $4,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new stake in HP during the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new stake in HP during the fourth quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new stake in HP during the third quarter valued at about $40,000. OFI Invest Asset Management purchased a new stake in HP during the fourth quarter valued at about $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in HP during the third quarter valued at about $44,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HPQ shares. TD Cowen lowered their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. lowered their price target 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 Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and lowered their price target for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Citigroup lowered their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $36.14.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

HP Trading Up 0.2 %

HPQ stock 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 company’s 50 day moving average is $32.07 and its 200 day moving average is $34.28. The stock has a market cap of $27.11 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth 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 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.35 billion. As a group, sell-side analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is currently 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.