HP Inc. (NYSE:HPQ) Director Robert R. Bennett Sells 67,000 Shares

HP Inc. (NYSE:HPQGet Free Report) Director Robert R. Bennett sold 67,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total value of $2,010,670.00. Following the transaction, the director now owns 60,216 shares in the company, valued at approximately $1,807,082.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

HP Price Performance

HP stock opened at $30.05 on Friday. HP Inc. has a 1-year low of $25.22 and a 1-year high of $33.90. The stock has a market cap of $29.47 billion, a PE ratio of 8.79, a P/E/G ratio of 2.52 and a beta of 1.04. The stock’s fifty day moving average is $29.25 and its two-hundred day moving average is $28.56.

HP (NYSE:HPQGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The company had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $13.56 billion. During the same period last year, the firm earned $0.75 earnings per share. HP’s quarterly revenue was down 4.4% on a year-over-year basis. On average, research analysts expect that HP Inc. will post 3.41 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th will be given a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Tuesday, March 12th. HP’s dividend payout ratio (DPR) is currently 32.16%.

Analysts Set New Price Targets

A number of equities analysts have commented on HPQ shares. Evercore ISI raised HP from an “in-line” rating to an “outperform” rating and increased their target price for the company from $33.00 to $40.00 in a report on Monday, December 11th. Barclays increased their target price on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. StockNews.com cut HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Morgan Stanley raised HP from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $31.00 to $35.00 in a report on Tuesday, December 12th. Finally, HSBC raised HP from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $33.00 in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, HP presently has an average rating of “Moderate Buy” and a consensus price target of $33.11.

Read Our Latest Research Report on HP

Hedge Funds Weigh In On HP

Several institutional investors have recently added to or reduced their stakes in the stock. Certified Advisory Corp purchased a new stake in shares of HP during the 1st quarter worth approximately $26,000. Rosenberg Matthew Hamilton raised its position in shares of HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after purchasing an additional 397 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in HP in the 4th quarter valued at $28,000. Mascoma Wealth Management LLC acquired a new position in HP in the 3rd quarter valued at $25,000. Finally, VitalStone Financial LLC acquired a new position in HP in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 76.04% of the company’s stock.

HP Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for HP (NYSE:HPQ)

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