HP Inc (NYSE:HPQ) CFO Catherine A. Lesjak sold 719,775 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $17.60, for a total transaction of $12,668,040.00. Following the completion of the sale, the chief financial officer now owns 599,775 shares in the company, valued at approximately $10,556,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of HP Inc (NYSE:HPQ) traded down 1.24% during midday trading on Friday, hitting $18.29. 9,952,925 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $17.57 and its 200 day moving average price is $15.86. The firm has a market cap of $30.97 billion, a PE ratio of 12.48 and a beta of 1.52. HP Inc has a one year low of $11.31 and a one year high of $18.61.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 22nd. The computer maker reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The company had revenue of $12.68 billion for the quarter, compared to the consensus estimate of $11.82 billion. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. Equities research analysts forecast that HP Inc will post $1.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 8th were issued a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Monday, March 6th. HP’s payout ratio is presently 37.32%.
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Several hedge funds have recently made changes to their positions in the company. Dodge & Cox purchased a new stake in shares of HP during the fourth quarter valued at $2,073,164,000. Norges Bank purchased a new stake in shares of HP during the fourth quarter valued at $225,623,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of HP during the fourth quarter valued at $145,193,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of HP during the fourth quarter valued at $143,429,000. Finally, DnB Asset Management AS raised its stake in shares of HP by 694.8% in the first quarter. DnB Asset Management AS now owns 3,939,034 shares of the computer maker’s stock valued at $70,430,000 after buying an additional 3,443,455 shares during the last quarter. 78.94% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on HPQ. Barclays PLC upgraded shares of HP from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $17.00 to $22.00 in a research note on Wednesday. Morgan Stanley increased their price objective on shares of HP from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup Inc raised shares of HP from a “neutral” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Co reissued an “outperform” rating and set a $21.00 price target on shares of HP in a report on Thursday, March 23rd. Finally, Royal Bank of Canada increased their price objective on shares of HP from $17.00 to $18.00 and gave the company a “positive” rating in a report on Monday, March 13th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. HP presently has an average rating of “Buy” and a consensus price target of $18.13.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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