HP Inc. (NYSE:HPQ) Insider Alex Cho Sells 173,137 Shares

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

HP Stock Down 3.3 %

NYSE:HPQ opened at $35.09 on Thursday. The stock has a fifty day simple moving average of $32.28 and a 200 day simple moving average of $30.51. The firm has a market capitalization of $34.34 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 2.31 and a beta of 1.12. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.61 billion. During the same period last year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. Equities analysts predict that HP Inc. will post 3.45 earnings per share for the current year.

HP Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HPQ. Barclays upped their price target on shares of HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. TD Cowen upped their target price on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Citigroup lifted their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Morgan Stanley upped their price objective on HP from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company lifted their target price on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.64.

Hedge Funds Weigh In On HP

Several institutional investors and hedge funds have recently bought and sold shares of the business. Treasurer of the State of North Carolina grew its holdings in shares of HP by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 401,809 shares of the computer maker’s stock valued at $12,090,000 after acquiring an additional 4,102 shares in the last quarter. Alaska Permanent Fund Corp raised its position in HP by 1.4% during the fourth quarter. Alaska Permanent Fund Corp now owns 79,291 shares of the computer maker’s stock valued at $2,386,000 after acquiring an additional 1,091 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in HP by 87.9% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 765,799 shares of the computer maker’s stock valued at $22,960,000 after acquiring an additional 358,231 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in HP in the fourth quarter worth approximately $1,758,000. Finally, Flputnam Investment Management Co. acquired a new position in shares of HP during the 4th quarter worth $211,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Company Profile

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.