HP (NYSE:HPQ) Shares Gap Down to $19.08

HP Inc. (NYSE:HPQ)’s share price gapped down prior to trading on Monday . The stock had previously closed at $19.60, but opened at $19.08. HP shares last traded at $18.87, with a volume of 7,849,496 shares trading hands.

A number of equities research analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of HP in a research note on Wednesday, June 5th. They issued an “outperform” rating and a $23.00 price target on the stock. ValuEngine downgraded shares of HP from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. set a $19.00 price target on shares of HP and gave the company a “hold” rating in a research note on Friday, August 23rd. Loop Capital set a $21.00 target price on shares of HP and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, UBS Group downgraded shares of HP from a “buy” rating to a “neutral” rating and cut their target price for the stock from $26.00 to $20.00 in a research note on Monday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. HP presently has a consensus rating of “Hold” and a consensus target price of $21.76.

The firm’s 50 day moving average is $19.01 and its two-hundred day moving average is $19.75. The stock has a market capitalization of $28.27 billion, a PE ratio of 9.26, a P/E/G ratio of 2.69 and a beta of 1.43.



HP (NYSE:HPQ) last announced its earnings results on Thursday, August 22nd. The computer maker reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.03. HP had a net margin of 7.18% and a negative return on equity of 265.02%. The firm had revenue of $14.60 billion for the quarter, compared to the consensus estimate of $14.58 billion. During the same period in the prior year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts predict that HP Inc. will post 2.21 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Tuesday, September 10th. HP’s dividend payout ratio is presently 31.68%.

In other HP news, insider Dion J. Weisler sold 437,171 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $18.01, for a total value of $7,873,449.71. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Claire Bramley sold 16,852 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $20.81, for a total transaction of $350,690.12. Following the completion of the sale, the insider now directly owns 16,852 shares in the company, valued at $350,690.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 586,987 shares of company stock worth $11,009,736. Insiders own 0.28% of the company’s stock.

Several large investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of HP by 1.6% in the 1st quarter. FMR LLC now owns 20,390,859 shares of the computer maker’s stock valued at $396,194,000 after purchasing an additional 313,469 shares during the last quarter. Geode Capital Management LLC increased its position in shares of HP by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 20,246,617 shares of the computer maker’s stock valued at $413,637,000 after purchasing an additional 385,515 shares during the last quarter. AQR Capital Management LLC increased its position in shares of HP by 44.2% in the 1st quarter. AQR Capital Management LLC now owns 18,796,913 shares of the computer maker’s stock valued at $362,686,000 after purchasing an additional 5,761,703 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of HP by 2.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 11,469,669 shares of the computer maker’s stock valued at $238,454,000 after purchasing an additional 240,758 shares during the last quarter. Finally, AJO LP increased its position in shares of HP by 2.1% in the 1st quarter. AJO LP now owns 11,126,218 shares of the computer maker’s stock valued at $216,182,000 after purchasing an additional 224,949 shares during the last quarter. 79.72% of the stock is currently owned by institutional investors.

HP Company Profile (NYSE:HPQ)

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.

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