HP Inc. (NYSE:HPQ) Director Sells $2,651,729.92 in Stock
HP Inc. (NYSE:HPQ) Director Margaret C. Whitman sold 147,976 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $17.92, for a total value of $2,651,729.92. Following the completion of the sale, the director now directly owns 618,865 shares of the company’s stock, valued at $11,090,060.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of HP Inc. (NYSE:HPQ) opened at 19.15 on Monday. The stock has a market cap of $32.24 billion, a P/E ratio of 13.54 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’s 50-day moving average price is $17.98 and its 200-day moving average price is $17.35.
HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Equities analysts predict that HP Inc. will post $1.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th were issued a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, June 12th. HP’s dividend payout ratio (DPR) is presently 37.32%.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dodge & Cox acquired a new position in shares of HP during the fourth quarter worth approximately $2,073,164,000. Vanguard Group Inc. increased its position 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 during the last quarter. State Street Corp increased its position 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 during the last quarter. Primecap Management Co. CA increased its position 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 during the last quarter. Finally, American International Group Inc. increased its position 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 during the last quarter. 79.63% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. UBS AG reissued a “buy” rating and issued a $20.00 target price (up from $18.00) on shares of HP in a research report on Monday, April 3rd. Bank of America Corporation raised their target price on HP from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Royal Bank Of Canada raised HP from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $21.00 to $22.00 in a research report on Thursday. Citigroup Inc. set a $20.00 target price on HP and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, Jefferies Group LLC raised their target price on HP from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, May 25th. Ten research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price 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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