HP Inc. (NYSE:HPQ) CEO Sells $4,997,076.30 in Stock

HP Inc. (NYSE:HPQ) CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the sale, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Enrique Lores also recently made the following trade(s):

• On Thursday, September 12th, Enrique Lores sold 211,501 shares of HP stock. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16.

HP Stock Performance

NYSE:HPQ opened at $34.94 on Wednesday. The firm’s fifty day moving average is $36.64 and its two-hundred day moving average is $35.80. The firm has a market cap of $33.67 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 3.09 and a beta of 1.04. HP Inc. has a one year low of $27.42 and a one year high of $39.79.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, November 26th. The computer maker reported $0.93 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 firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period last year, the company earned $0.90 earnings per share. HP’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

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

HP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a $0.2894 dividend. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Wednesday, December 11th. HP’s payout ratio is currently 40.93%.

Analyst Ratings Changes

Several equities analysts have issued reports on HPQ shares. Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Morgan Stanley reduced their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. TD Cowen raised their price target on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Citigroup cut their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Barclays lifted their target price on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, HP presently has an average rating of “Hold” and a consensus price target of $36.77.

Institutional Inflows and Outflows

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

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.