M&T Bank Corp Has $3.64 Million Position in HP Inc. (NYSE:HPQ)

M&T Bank Corp trimmed its position in HP Inc. (NYSE:HPQ - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 131,488 shares of the computer maker's stock after selling 11,279 shares during the period. M&T Bank Corp's holdings in HP were worth $3,641,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in HP by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after acquiring an additional 579,525 shares during the last quarter. Northern Trust Corp lifted its position in shares of HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock worth $419,126,000 after purchasing an additional 1,755,942 shares during the last quarter. Invesco Ltd. lifted its position in HP by 7.3% in the fourth quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker's stock valued at $310,351,000 after acquiring an additional 643,192 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in HP by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker's stock valued at $303,105,000 after purchasing an additional 707,742 shares during the period. Finally, Norges Bank purchased a new stake in shares of HP in the fourth quarter valued at about $229,320,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Down 1.1%

Shares of HP stock traded down $0.29 during trading on Friday, reaching $25.44. The company's stock had a trading volume of 6,168,250 shares, compared to its average volume of 7,961,712. The business's 50-day moving average price is $25.99 and its 200-day moving average price is $28.44. The firm has a market cap of $23.90 billion, a PE ratio of 9.82, a P/E/G ratio of 2.06 and a beta of 1.27. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.80.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). The firm had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. Equities analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.55%. The ex-dividend date is Wednesday, September 10th. HP's payout ratio is 44.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HPQ shares. UBS Group cut their price objective on shares of HP from $37.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Morgan Stanley cut their price target on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, May 29th. Wells Fargo & Company reduced their price objective on shares of HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research note on Thursday, May 29th. TD Cowen decreased their price objective on shares of HP from $38.00 to $28.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Finally, Dbs Bank downgraded shares of HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, HP has a consensus rating of "Hold" and a consensus target price of $29.54.

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.