Alex Cho Sells 40,287 Shares of HP Inc. (NYSE:HPQ) Stock

HP Inc. (NYSE:HPQ) insider Alex Cho sold 40,287 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total value of $1,401,987.60. Following the sale, the insider now owns 64,676 shares of the company’s stock, valued at $2,250,724.80. This represents a 38.38 % 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 link.

Alex Cho also recently made the following trade(s):

• On Friday, November 29th, Alex Cho sold 10,298 shares of HP stock. The shares were sold at an average price of $34.32, for a total value of $353,427.36.

HP Stock Up 1.2 %

HP stock opened at $34.98 on Friday. The stock’s 50 day moving average is $36.63 and its 200 day moving average is $35.81. The company has a market capitalization of $33.71 billion, a P/E ratio of 12.45, a PEG ratio of 3.09 and a beta of 1.04. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. As a group, equities analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

HP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a dividend of $0.2894 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.31%. This is an increase from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio (DPR) is 40.93%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in HP in the third quarter worth about $25,000. Triad Wealth Partners LLC purchased a new stake in HP during the second quarter valued at approximately $33,000. Wolff Wiese Magana LLC boosted its stake in shares of HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after acquiring an additional 518 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of HP during the 3rd quarter valued at $37,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of HP during the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on HPQ. UBS Group upped their price target on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, September 27th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. HSBC cut HP from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Finally, TD Cowen raised their price target on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, HP has a consensus rating of “Hold” and a consensus target price of $36.45.

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.