Margaret C. Whitman Sells 295,952 Shares of HP Inc. (HPQ) Stock
HP Inc. (NYSE:HPQ) Director Margaret C. Whitman sold 295,952 shares of HP stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $18.02, for a total value of $5,333,055.04. Following the sale, the director now owns 618,865 shares in the company, valued at $11,151,947.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of HP Inc. (NYSE:HPQ) traded up 0.22% on Thursday, hitting $18.08. The stock had a trading volume of 9,397,027 shares. The stock has a market capitalization of $30.43 billion, a P/E ratio of 12.79 and a beta of 1.89. HP Inc. has a 52 week low of $12.95 and a 52 week high of $19.58. The firm has a 50-day moving average price of $18.37 and a 200-day moving average price of $17.07.
HP (NYSE:HPQ) last released its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter last year, the business posted $0.41 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. Equities analysts expect that HP Inc. will post $1.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Wednesday, June 14th were given a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Monday, June 12th. HP’s dividend payout ratio is currently 37.32%.
Several hedge funds have recently added to or reduced their stakes in HPQ. Trexquant Investment LP acquired a new stake in HP during the first quarter valued at about $833,000. ZWJ Investment Counsel Inc. acquired a new stake in HP during the first quarter valued at about $443,000. Cornerstone Capital Management Holdings LLC. boosted its stake in HP by 106.5% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 1,462,303 shares of the computer maker’s stock valued at $26,145,000 after buying an additional 754,019 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in HP by 2.4% in the second quarter. Xact Kapitalforvaltning AB now owns 256,080 shares of the computer maker’s stock valued at $4,476,000 after buying an additional 6,074 shares in the last quarter. Finally, American Beacon Advisors Inc. acquired a new stake in HP during the first quarter valued at about $112,000. Hedge funds and other institutional investors own 79.38% of the company’s stock.
A number of research firms have recently commented on HPQ. Mizuho upgraded HP from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $21.00 in a research note on Monday. Susquehanna Bancshares Inc began coverage on HP in a research note on Thursday. They set a “neutral” rating and a $20.00 target price on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a $20.00 target price (up from $18.00) on shares of HP in a research note on Friday, May 19th. Citigroup Inc. set a $20.00 target price on HP and gave the stock a “buy” rating in a research note on Thursday, May 25th. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $21.00 target price on shares of HP in a research note on Thursday, March 23rd. Eleven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $19.70.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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