By otakuyassine3@gmail.com 
HP Inc. (NYSE:HPQ – Get Free Report) insider Kristen M. Ludgate sold 74,356 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $34.43, for a total value of $2,560,077.08. Following the completion of the sale, the insider now owns 56,169 shares of the company’s stock, valued at approximately $1,933,898.67. This represents a 56.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
HP Trading Down 1.0 %
HPQ traded down $0.35 on Monday, hitting $34.20. 8,182,239 shares of the company’s stock traded hands, compared to its average volume of 7,836,816. The company’s 50 day simple moving average is $36.59 and its 200-day simple moving average is $35.85. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The firm has a market cap of $32.96 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 2.95 and a beta of 1.04.
HP (NYSE:HPQ – Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. During the same period in the prior year, the firm earned $0.90 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.
HP Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a $0.2894 dividend. This is a boost from HP’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.38%. HP’s payout ratio is 40.93%.
HP announced that its board has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. TD Cowen boosted their price target on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. HSBC cut HP from a “buy” rating to a “hold” rating and decreased their price target for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Finally, UBS Group lifted their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.45.
Read Our Latest Stock Report on HPQ
Institutional Trading of HP
A number of institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of HP in the third quarter valued at $25,000. Wolff Wiese Magana LLC raised its position in HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the period. ORG Wealth Partners LLC bought a new stake in HP in the third quarter worth about $37,000. Itau Unibanco Holding S.A. bought a new stake in HP in the third quarter worth about $40,000. Finally, DecisionPoint Financial LLC purchased a new position in shares of HP during the second quarter valued at approximately $43,000. 77.53% of the stock is currently owned by 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.
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