Insider Selling: HP Inc. (NYSE:HPQ) Insider Sells $6,251,977.07 in Stock

HP Inc. (NYSE:HPQ) insider Alex Cho sold 173,137 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the sale, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

HP Price Performance

HP stock opened at $35.09 on Thursday. The business has a 50 day simple moving average of $32.28 and a 200-day simple moving average of $30.51. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52. The stock has a market capitalization of $34.34 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 2.31 and a beta of 1.12.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.61 billion. HP had a net margin of 5.60% and a negative return on equity of 230.39%. HP’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, equities research analysts anticipate that HP Inc. will post 3.45 EPS for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.2756 per share. This represents a $1.10 annualized dividend and a yield of 3.14%. The ex-dividend date is Wednesday, September 11th. HP’s payout ratio is 37.16%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Wells Fargo & Company raised their price objective on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Citigroup boosted their target price on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Bank of America raised their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Barclays boosted their price objective on HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.64.

Institutional Trading of HP

Several hedge funds have recently modified their holdings of HPQ. Vanguard Group Inc. raised its position in HP by 12.3% in the third quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock worth $3,019,999,000 after acquiring an additional 12,883,347 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in HP by 4,180.9% during the fourth quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock worth $286,352,000 after buying an additional 9,294,209 shares in the last quarter. Norges Bank acquired a new position in HP during the fourth quarter worth about $187,264,000. Qube Research & Technologies Ltd increased its holdings in HP by 145.9% in the third quarter. Qube Research & Technologies Ltd now owns 6,090,872 shares of the computer maker’s stock valued at $156,535,000 after buying an additional 3,613,742 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of HP by 1,472.4% during the 4th quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock valued at $68,126,000 after acquiring an additional 2,120,096 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

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.