Insider Selling: HP Inc. (NYSE:HPQ) Insider Sells $357,500.00 in Stock

HP Inc. (NYSE:HPQ) insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

HP Trading Down 0.5 %

HP stock opened at $32.47 on Friday. The firm has a market cap of $31.29 billion, a PE ratio of 11.56, a P/E/G ratio of 2.95 and a beta of 1.04. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The stock’s 50 day simple moving average is $35.58 and its two-hundred day simple moving average is $35.55.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were issued a $0.2894 dividend. This is a boost from HP’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a yield of 3.57%. HP’s dividend payout ratio is presently 41.28%.

Hedge Funds Weigh In On HP

A number of hedge funds have recently bought and sold shares of the business. Old Port Advisors lifted its position in shares of HP by 5.2% during the 4th quarter. Old Port Advisors now owns 10,116 shares of the computer maker’s stock valued at $330,000 after buying an additional 504 shares in the last quarter. Principal Financial Group Inc. raised its position in HP by 16.1% during the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after acquiring an additional 160,268 shares during the period. Retirement Systems of Alabama lifted its holdings in HP by 12.4% during the third quarter. Retirement Systems of Alabama now owns 214,072 shares of the computer maker’s stock valued at $7,679,000 after purchasing an additional 23,693 shares in the last quarter. Franklin Resources Inc. grew its position in shares of HP by 25.2% in the third quarter. Franklin Resources Inc. now owns 1,007,270 shares of the computer maker’s stock valued at $37,712,000 after purchasing an additional 202,613 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of HP by 47.5% during the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock worth $5,259,000 after purchasing an additional 47,230 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup cut their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. JPMorgan Chase & Co. decreased their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Friday, September 27th. Finally, TD Cowen upped their price target on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, HP presently has a consensus rating of “Hold” and a consensus price target of $36.45.

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.