HP Inc. (NYSE:HPQ) Stake Cut by Comerica Bank

Comerica Bank cut its position in shares of HP Inc. (NYSE:HPQ) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 339,181 shares of the computer maker’s stock after selling 10,456 shares during the quarter. Comerica Bank’s holdings in HP were worth $5,807,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rothschild & Co Wealth Management UK Ltd bought a new position in HP during the second quarter worth $33,000. Transamerica Financial Advisors Inc. bought a new position in HP during the second quarter worth $38,000. Coastal Capital Group Inc. bought a new position in HP during the second quarter worth $39,000. Redhawk Wealth Advisors Inc. bought a new position in HP during the second quarter worth $41,000. Finally, Berman Capital Advisors LLC lifted its stake in HP by 378.6% in the second quarter. Berman Capital Advisors LLC now owns 2,034 shares of the computer maker’s stock valued at $42,000 after buying an additional 1,609 shares during the last quarter. Hedge funds and other institutional investors own 79.84% of the company’s stock.

HPQ has been the topic of a number of recent research reports. Credit Suisse Group cut their target price on HP from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Wells Fargo & Co upgraded HP to a “market perform” rating and cut their target price for the company from $23.00 to $20.00 in a research note on Friday, August 23rd. Bank of America cut their target price on HP from $17.00 to $16.00 and set an “underperform” rating on the stock in a research note on Friday, October 4th. UBS Group cut HP from a “buy” rating to a “neutral” rating and cut their target price for the company from $26.00 to $20.00 in a research note on Monday, September 16th. Finally, Morgan Stanley cut their target price on HP from $21.00 to $20.00 and set a “weight” rating on the stock in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.73.

Shares of HPQ opened at $19.57 on Thursday. The firm has a market capitalization of $26.67 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 3.52 and a beta of 1.41. HP Inc. has a one year low of $15.93 and a one year high of $25.72. The stock’s fifty day moving average is $17.60 and its 200-day moving average is $19.25.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, August 22nd. The computer maker reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $14.60 billion for the quarter, compared to analyst estimates of $14.58 billion. HP had a negative return on equity of 265.02% and a net margin of 7.18%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. On average, research analysts expect that HP Inc. will post 2.21 earnings per share for the current fiscal year.

In other news, insider Dion J. Weisler sold 437,171 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $18.01, for a total transaction of $7,873,449.71. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.28% of the stock is currently owned by company insiders.

HP 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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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