Insider Selling: HP Inc. (NYSE:HPQ) Insider Sells 40,287 Shares of Stock

HP Inc. (NYSE:HPQ) insider Alex Cho sold 40,287 shares of HP stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at approximately $2,250,724.80. This represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Alex Cho also recently made the following trade(s):

• On Friday, November 29th, Alex Cho sold 10,298 shares of HP stock. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36.

HP Price Performance

Shares of NYSE HPQ traded down $0.11 during trading on Wednesday, hitting $34.54. The stock had a trading volume of 8,183,378 shares, compared to its average volume of 7,858,085. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The company has a market capitalization of $33.29 billion, a PE ratio of 12.31, a PEG ratio of 3.09 and a beta of 1.04. The firm has a fifty day moving average of $36.64 and a two-hundred day moving average of $35.82.

HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS. On average, equities analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP announced that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

HP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.35%. This is a boost from HP’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. HP’s payout ratio is presently 40.93%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. HSBC lowered HP from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $38.00 in a research report on Friday, November 29th. UBS Group lifted their price objective on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Friday, September 27th. JPMorgan Chase & Co. decreased their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Barclays increased their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.77.

Institutional Trading of HP

Large investors have recently bought and sold shares of the company. Retirement Systems of Alabama boosted its holdings in HP by 12.4% in the 3rd quarter. Retirement Systems of Alabama now owns 214,072 shares of the computer maker’s stock valued at $7,679,000 after purchasing an additional 23,693 shares during the period. Franklin Resources Inc. lifted its holdings in shares of HP by 25.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,007,270 shares of the computer maker’s stock worth $37,712,000 after acquiring an additional 202,613 shares during the last quarter. Tidal Investments LLC grew its stake in shares of HP by 47.5% during the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after buying an additional 47,230 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in HP in the 3rd quarter worth approximately $1,042,000. Finally, Arvest Bank Trust Division bought a new stake in HP during the 3rd quarter valued at $11,745,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

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.