Trade Report: Today, M&T Bank Corp decides to keep it stake in HP Inc. (HPQ) to the level of $5,395,000

Today, M&T Bank Corp decides to keep it stake in HP Inc. (HPQ) to the level of $5,395,000

M&T Bank Corp raised its stake in HP Inc. (NYSE:HPQ) by 7.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 347,383 shares of the computer maker’s stock after buying an additional 24,738 shares during the period. M&T Bank Corp’s holdings in HP were worth $5,395,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cedar Wealth Management LLC raised its position in shares of HP by 2.7% in the third quarter. Cedar Wealth Management LLC now owns 8,431 shares of the computer maker’s stock valued at $131,000 after buying an additional 220 shares during the period. Nikko Asset Management Americas Inc. acquired a new position in shares of HP during the third quarter valued at approximately $140,000. Integrated Wealth Management raised its position in shares of HP by 3.4% in the third quarter. Integrated Wealth Management now owns 9,236 shares of the computer maker’s stock valued at $143,000 after buying an additional 304 shares during the period. Advisory Services Network LLC raised its position in shares of HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock valued at $145,000 after buying an additional 807 shares during the period. Finally, First National Trust Co. acquired a new position in shares of HP during the third quarter valued at approximately $158,000. Institutional investors own 79.49% of the company’s stock.

Shares of HP Inc. (NYSE:HPQ) traded up 2.08% during midday trading on Friday, hitting $15.18. 8,660,696 shares of the stock traded hands. The company has a market capitalization of $25.97 billion, a price-to-earnings ratio of 8.08 and a beta of 1.53. HP Inc. has a 52 week low of $8.91 and a 52 week high of $16.19. The firm’s 50-day moving average is $14.98 and its 200 day moving average is $14.00.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. HP had a net margin of 5.17% and a negative return on equity of 61.38%. The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $11.89 billion. During the same period in the prior year, the company posted $0.93 earnings per share. HP’s revenue was up 5.2% compared to the same quarter last year. Equities analysts forecast that HP Inc. will post $1.60 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be paid a $0.1327 dividend. The ex-dividend date is Monday, December 12th. This is an increase from HP’s previous quarterly dividend of $0.12. This represents a $0.53 annualized dividend and a dividend yield of 3.57%. HP’s dividend payout ratio is 35.21%.

A number of research analysts recently issued reports on HPQ shares. Barclays PLC raised their target price on shares of HP from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, August 25th. RBC Capital Markets reiterated a “sector perform” rating and issued a $14.00 target price on shares of HP in a research note on Tuesday, September 13th. Vetr upgraded shares of HP from a “buy” rating to a “strong-buy” rating and set a $16.84 target price on the stock in a research note on Monday, October 17th. Jefferies Group raised their target price on shares of HP from $16.00 to $16.75 and gave the company a “buy” rating in a research note on Thursday, August 25th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $15.00 target price on shares of HP in a research note on Thursday, August 25th. Fifteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. HP presently has a consensus rating of “Hold” and an average price target of $15.73.

In related news, insider Tracy S. Keogh sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total value of $1,500,000.00. Following the transaction, the insider now directly owns 213,582 shares in the company, valued at $3,203,730. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marie Myers sold 10,269 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.55, for a total transaction of $149,413.95. Following the completion of the transaction, the insider now owns 22,390 shares in the company, valued at $325,774.50. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

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