HP Inc. (NYSE:HPQ – Get Free Report) CEO Enrique Lores sold 137,094 shares of HP stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the sale, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Enrique Lores also recently made the following trade(s):
- On Thursday, September 12th, Enrique Lores sold 211,501 shares of HP stock. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16.
HP Stock Down 4.1 %
NYSE HPQ traded down $1.51 during trading hours on Tuesday, hitting $34.94. 8,013,402 shares of the company were exchanged, compared to its average volume of 7,856,550. The stock has a 50-day moving average price of $36.64 and a 200 day moving average price of $35.80. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79. The stock has a market cap of $33.67 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 3.09 and a beta of 1.04.
HP Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a $0.2894 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $1.16 annualized dividend and a yield of 3.31%. This is a boost from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio is 40.93%.
HP announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on HPQ. Citigroup dropped their price target 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 downgraded HP from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, September 27th. JPMorgan Chase & Co. lowered their price objective on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Loop Capital lowered their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.77.
View Our Latest Analysis on HP
Institutional Trading of HP
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of HP in the 3rd quarter worth $25,000. Triad Wealth Partners LLC purchased a new position in HP in the 2nd quarter worth $33,000. Wolff Wiese Magana LLC raised its stake in HP by 115.1% in 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 purchased a new position in HP in the 3rd quarter worth $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in HP in the 3rd quarter worth $40,000. 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.
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