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

HP Inc. (NYSE:HPQ) insider Alex Cho sold 40,287 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total transaction 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 trade represents a 38.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $34.32, for a total transaction of $353,427.36.

HP Price Performance

Shares of HPQ opened at $34.55 on Friday. The firm’s 50 day simple moving average is $36.59 and its 200 day simple moving average is $35.81. The company has a market capitalization of $33.30 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.95 and a beta of 1.04. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79.

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

HP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This is an increase from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.35%. HP’s dividend payout ratio (DPR) is 41.28%.

HP declared that its board has approved a stock repurchase program on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HPQ. Ashton Thomas Securities LLC purchased a new position in shares of HP during the third quarter worth approximately $25,000. Triad Wealth Partners LLC purchased a new position in shares of HP in the second quarter worth $33,000. Wolff Wiese Magana LLC increased its stake in shares of HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after buying an additional 518 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of HP in the third quarter worth $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of HP in the third quarter worth $40,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Loop Capital cut their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Friday, September 27th. Citigroup cut their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and cut their price objective for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Finally, TD Cowen raised their price objective on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.