HP Inc. (NYSE:HPQ) Director Subra Suresh sold 10,939 shares of the stock in a transaction dated Wednesday, November 24th. The stock was sold at an average price of $34.12, for a total transaction of $373,238.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
HPQ traded up $1.35 during midday trading on Monday, reaching $35.93. 16,666,824 shares of the company’s stock were exchanged, compared to its average volume of 9,646,392. HP Inc. has a 1-year low of $21.80 and a 1-year high of $36.21. The stock has a market capitalization of $41.41 billion, a PE ratio of 6.60, a P/E/G ratio of 0.68 and a beta of 1.03. The business’s 50-day moving average price is $30.05 and its 200 day moving average price is $29.67.
HP (NYSE:HPQ) last released its earnings results on Tuesday, November 23rd. The computer maker reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. HP had a negative return on equity of 151.64% and a net margin of 10.24%. The firm had revenue of $16.68 billion during the quarter, compared to analyst estimates of $15.42 billion. During the same period in the prior year, the firm posted $0.62 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that HP Inc. will post 4.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 5th. Shareholders of record on Wednesday, December 8th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 7th. This is a positive change from HP’s previous quarterly dividend of $0.19. This represents a $1.00 annualized dividend and a yield of 2.78%. HP’s dividend payout ratio is currently 14.34%.
Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of HP from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of HP from $32.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, November 24th. TheStreet raised HP from a “c+” rating to a “b-” rating in a research report on Tuesday, November 2nd. Jefferies Financial Group started coverage on HP in a research report on Monday, August 9th. They issued a “hold” rating and a $31.00 target price for the company. Finally, Bank of America boosted their price target on shares of HP from $29.00 to $33.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.00.
Large investors have recently made changes to their positions in the business. SouthState Corp acquired a new stake in shares of HP in the third quarter worth $26,000. Delta Asset Management LLC TN grew its stake in shares of HP by 161.0% in the third quarter. Delta Asset Management LLC TN now owns 1,112 shares of the computer maker’s stock valued at $30,000 after buying an additional 686 shares in the last quarter. Barrett Asset Management LLC grew its stake in shares of HP by 800.0% in the second quarter. Barrett Asset Management LLC now owns 1,125 shares of the computer maker’s stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. Trustcore Financial Services LLC grew its stake in shares of HP by 41.7% in the third quarter. Trustcore Financial Services LLC now owns 1,149 shares of the computer maker’s stock valued at $31,000 after buying an additional 338 shares in the last quarter. Finally, Albion Financial Group UT acquired a new stake in shares of HP in the second quarter valued at about $35,000. Institutional investors own 80.06% 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.