Insider Selling: HP Inc. (HPQ) Director Sells 221,960 Shares of Stock
HP Inc. (NYSE:HPQ) Director Margaret C. Whitman sold 221,960 shares of HP stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $19.36, for a total transaction of $4,297,145.60. Following the sale, the director now directly owns 692,849 shares in the company, valued at approximately $13,413,556.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
HP Inc. (NYSE:HPQ) traded down 0.77% during mid-day trading on Wednesday, hitting $19.26. 8,027,772 shares of the company’s stock were exchanged. The stock has a market capitalization of $32.42 billion, a P/E ratio of 13.62 and a beta of 1.89. HP Inc. has a 52 week low of $13.55 and a 52 week high of $19.58. The firm has a 50 day moving average of $17.99 and a 200 day moving average of $17.43.
HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 7.0% on a year-over-year basis. Equities analysts forecast that HP Inc. will post $1.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio is currently 37.32%.
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A number of large investors have recently modified their holdings of HPQ. Vanguard Group Inc. raised its stake in shares of HP by 1.8% in the first quarter. Vanguard Group Inc. now owns 121,687,604 shares of the computer maker’s stock worth $2,175,775,000 after buying an additional 2,122,269 shares in the last quarter. State Street Corp raised its stake in shares of HP by 0.7% in the first quarter. State Street Corp now owns 79,522,135 shares of the computer maker’s stock worth $1,421,893,000 after buying an additional 515,648 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock worth $1,141,660,000 after buying an additional 2,163,147 shares in the last quarter. American International Group Inc. raised its stake in shares of HP by 1.6% in the first quarter. American International Group Inc. now owns 29,056,041 shares of the computer maker’s stock worth $519,522,000 after buying an additional 457,514 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of HP by 4.8% in the first quarter. LSV Asset Management now owns 13,611,654 shares of the computer maker’s stock worth $243,376,000 after buying an additional 621,847 shares in the last quarter. 79.63% of the stock is currently owned by hedge funds and other institutional investors.
HPQ has been the subject of several recent analyst reports. Vetr lowered shares of HP from a “buy” rating to a “hold” rating and set a $19.72 price objective for the company. in a report on Monday, June 5th. ValuEngine raised shares of HP from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Susquehanna Bancshares Inc initiated coverage on shares of HP in a report on Thursday, July 13th. They set a “neutral” rating and a $20.00 price objective for the company. Royal Bank Of Canada raised their price objective on shares of HP from $20.00 to $21.00 and gave the stock a “sector perform” rating in a report on Thursday, May 25th. Finally, Citigroup Inc. raised shares of HP from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $17.54 to $20.00 in a report on Wednesday, April 12th. Nine analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.89.
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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