HP Inc. (NYSE:HPQ) Insider Alex Cho Sells 10,298 Shares of Stock

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

HP Trading Up 2.9 %

Shares of NYSE:HPQ opened at $36.44 on Tuesday. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79. The company’s 50 day moving average is $36.57 and its two-hundred day moving average is $35.62. The company has a market cap of $35.12 billion, a PE ratio of 12.97, a P/E/G ratio of 2.46 and a beta of 1.07.

HP (NYSE:HPQ) last posted its earnings results 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%. HP’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. As a group, equities research 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. Investors of record on Wednesday, December 11th will be paid a dividend of $0.2894 per share. This is a boost from HP’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. This represents a $1.16 annualized dividend and a yield of 3.18%. HP’s payout ratio is presently 40.93%.

HP announced that its board has authorized a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to buy up to 28.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Loop Capital dropped their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Friday, September 27th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a report on Friday. UBS Group boosted their price target on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley lowered their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.77.

Institutional Trading of HP

Institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its position 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 valued at $37,712,000 after buying an additional 202,613 shares during the last quarter. Tidal Investments LLC boosted its stake in HP by 47.5% in the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after acquiring an additional 47,230 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of HP during the third quarter worth about $1,042,000. Arvest Bank Trust Division acquired a new stake in shares of HP during the third quarter worth about $11,745,000. Finally, World Investment Advisors LLC purchased a new stake in shares of HP in the 3rd quarter valued at about $324,000. Hedge funds and other 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.