Insider Selling: HP Inc. (NYSE:HPQ) Director Sells 67,000 Shares of Stock

HP Inc. (NYSE:HPQGet Free Report) Director Robert R. Bennett sold 67,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the sale, the director now owns 60,216 shares in the company, valued at approximately $1,807,082.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

HP Trading Down 0.1 %

HPQ opened at $30.05 on Monday. HP Inc. has a 12-month low of $25.22 and a 12-month high of $33.90. The business’s fifty day simple moving average is $29.25 and its 200-day simple moving average is $28.53. The company has a market capitalization of $29.47 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 2.52 and a beta of 1.04.

HP (NYSE:HPQGet Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The company had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $13.56 billion. During the same quarter last year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities research analysts predict that HP Inc. will post 3.41 EPS for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th will be paid a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, March 12th. HP’s dividend payout ratio (DPR) is presently 32.16%.

Institutional Investors Weigh In On HP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HPQ. Cantor Fitzgerald Investment Advisor L.P raised its stake in shares of HP by 89.9% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 873,243 shares of the computer maker’s stock worth $31,698,000 after purchasing an additional 413,491 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of HP by 46.6% in the first quarter. Canada Pension Plan Investment Board now owns 305,877 shares of the computer maker’s stock worth $11,103,000 after purchasing an additional 97,178 shares during the last quarter. Prudential PLC purchased a new position in shares of HP in the first quarter worth about $892,000. Cetera Investment Advisers raised its stake in shares of HP by 6.8% in the first quarter. Cetera Investment Advisers now owns 17,651 shares of the computer maker’s stock worth $641,000 after purchasing an additional 1,121 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of HP in the first quarter worth about $309,000. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on HPQ shares. Morgan Stanley upgraded HP from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $31.00 to $35.00 in a report on Tuesday, December 12th. HSBC raised HP from a “hold” rating to a “buy” rating and upped their price objective for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. Evercore ISI raised HP from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $33.00 to $40.00 in a research report on Monday, December 11th. Barclays upped their price objective on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Finally, StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, HP currently has an average rating of “Moderate Buy” and a consensus target price of $33.11.

Check Out Our Latest Research Report on HPQ

HP Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for HP (NYSE:HPQ)

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