Cadence Bank Has $5.42 Million Stock Position in HP Inc. (NYSE:HPQ)

Cadence Bank raised its position in HP Inc. (NYSE:HPQ) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,160 shares of the computer maker’s stock after buying an additional 7,790 shares during the period. Cadence Bank’s holdings in HP were worth $5,422,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in HPQ. Lazard Asset Management LLC grew its holdings in HP by 3,567.3% during the 1st quarter. Lazard Asset Management LLC now owns 34,143 shares of the computer maker’s stock worth $1,030,000 after acquiring an additional 33,212 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of HP by 1.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,191,666 shares of the computer maker’s stock valued at $36,013,000 after acquiring an additional 15,675 shares during the period. California State Teachers Retirement System increased its position in HP by 6.8% in the first quarter. California State Teachers Retirement System now owns 1,577,195 shares of the computer maker’s stock worth $47,663,000 after purchasing an additional 101,069 shares during the period. Tidal Investments LLC raised its holdings in HP by 15.9% during the 1st quarter. Tidal Investments LLC now owns 114,994 shares of the computer maker’s stock worth $3,474,000 after purchasing an additional 15,815 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of HP in the 1st quarter valued at about $225,000. 77.53% of the stock is owned by institutional investors.

Insider Activity at HP

In other news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the transaction, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. This represents a 100.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is owned by insiders.

HP Trading Down 0.6 %

HPQ opened at $39.08 on Wednesday. The stock has a market capitalization of $37.66 billion, a P/E ratio of 13.71, a P/E/G ratio of 2.70 and a beta of 1.07. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The firm’s fifty day simple moving average is $36.56 and its 200 day simple moving average is $35.53.

HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same quarter last year, the firm earned $0.90 EPS. HP’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its board has initiated a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays reduced their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Loop Capital dropped their price objective on HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. cut their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Morgan Stanley decreased their target price on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.45.

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.