Margaret C. Whitman Sells 295,936 Shares of HP Inc. (NYSE:HPQ) Stock
HP Inc. (NYSE:HPQ) Director Margaret C. Whitman sold 295,936 shares of HP stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $19.00, for a total transaction of $5,622,784.00. Following the sale, the director now owns 766,825 shares of the company’s stock, valued at $14,569,675. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
HP Inc. (NYSE HPQ) opened at 19.15 on Friday. HP Inc. has a 12 month low of $13.55 and a 12 month high of $19.58. The firm’s 50-day moving average is $17.98 and its 200-day moving average is $17.35. The stock has a market capitalization of $32.24 billion, a P/E ratio of 13.54 and a beta of 1.89.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. On average, equities analysts expect that HP Inc. will post $1.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th were paid a dividend of $0.1327 per share. The ex-dividend date was Monday, June 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.77%. HP’s dividend payout ratio is currently 37.32%.
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Several equities research analysts have issued reports on HPQ shares. Vetr lowered shares of HP from a “buy” rating to a “hold” rating and set a $19.72 target price for the company. in a research report on Monday, June 5th. ValuEngine upgraded shares of HP from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Susquehanna Bancshares Inc started coverage on shares of HP in a research report on Thursday, July 13th. They set a “neutral” rating and a $20.00 target price for the company. Royal Bank Of Canada lifted their target price on shares of HP from $20.00 to $21.00 and gave the company a “sector perform” rating in a research report on Thursday, May 25th. Finally, Citigroup Inc. upgraded shares of HP from a “neutral” rating to a “buy” rating and lifted their target price for the company from $17.54 to $20.00 in a research report on Wednesday, April 12th. Ten research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $19.89.
Institutional investors have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of HP during the first quarter valued at approximately $79,108,000. Renaissance Technologies LLC purchased a new position in shares of HP during the first quarter valued at approximately $62,824,000. DnB Asset Management AS raised its position 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 in the last quarter. Morgan Stanley raised its position in shares of HP by 69.4% in the first quarter. Morgan Stanley now owns 7,333,354 shares of the computer maker’s stock valued at $131,121,000 after buying an additional 3,003,129 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in shares of HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock valued at $1,141,660,000 after buying an additional 2,163,147 shares in the last quarter. Hedge funds and other institutional investors own 79.49% of the company’s stock.
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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