HP Inc. (NYSE:HPQ) Insider Sells $353,427.36 in Stock

HP Inc. (NYSE:HPQ) insider Alex Cho sold 10,298 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. This represents a 13.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

HP Trading Up 2.9 %

HP stock traded up $1.01 during trading on Monday, hitting $36.44. 11,319,275 shares of the company were exchanged, compared to its average volume of 7,865,047. The business’s 50 day moving average is $36.57 and its 200 day moving average is $35.62. The company has a market capitalization of $35.12 billion, a P/E ratio of 12.97, a PEG ratio of 2.46 and a beta of 1.07. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Equities analysts expect that HP Inc. will post 3.53 EPS for the current year.

HP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be issued a $0.2894 dividend. This is a positive change from HP’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.18%. HP’s dividend payout ratio (DPR) is presently 40.93%.

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

Wall Street Analysts Forecast Growth

HPQ has been the subject of a number of recent analyst reports. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $38.00 in a report on Friday. JPMorgan Chase & Co. cut their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday. Barclays increased their target price on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Finally, UBS Group raised their price objective 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 equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.77.

Hedge Funds Weigh In On HP

A number of hedge funds have recently made changes to their positions in the business. LVW Advisors LLC raised its holdings in shares of HP by 1.2% in the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after buying an additional 278 shares during the period. Castleview Partners LLC raised its stake in shares of HP by 8.1% during the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after buying an additional 289 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of HP by 5.9% in the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock valued at $191,000 after purchasing an additional 297 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in HP by 3.2% in the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after buying an additional 303 shares during the last quarter. Finally, Arvest Investments Inc. boosted its holdings in shares of HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after purchasing an additional 310 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Company 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.