HP Inc. (NYSE:HPQ) CEO Enrique Lores Sells 137,094 Shares

HP Inc. (NYSE:HPQ) CEO Enrique Lores sold 137,094 shares of the firm’s 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 transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This trade represents a 60.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $33.16, for a total value of $7,013,373.16.

HP Price Performance

HPQ stock traded down $1.51 during trading on Tuesday, hitting $34.94. The stock had a trading volume of 8,013,402 shares, compared to its average volume of 7,856,550. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The stock has a market capitalization of $33.67 billion, a P/E ratio of 12.43, a PEG ratio of 3.09 and a beta of 1.04. The company’s 50-day moving average price is $36.64 and its two-hundred day moving average price is $35.80.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. During the same period in the previous year, the firm posted $0.90 EPS. HP’s revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

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 issued a $0.2894 dividend. 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. The ex-dividend date is Wednesday, December 11th. HP’s payout ratio is presently 40.93%.

HP declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. JPMorgan Chase & Co. reduced their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Loop Capital reduced their price objective on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Friday, September 27th. Finally, Barclays raised their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. One investment 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’s stock. According to MarketBeat.com, HP presently has a consensus rating of “Hold” and an average target price of $36.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HPQ. Sequoia Financial Advisors LLC boosted its holdings in shares of HP by 22.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 22,581 shares of the computer maker’s stock worth $791,000 after purchasing an additional 4,143 shares during the last quarter. Wedmont Private Capital raised its position in shares of HP by 21.9% during the 2nd quarter. Wedmont Private Capital now owns 11,285 shares of the computer maker’s stock valued at $415,000 after buying an additional 2,028 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of HP by 4.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 196,208 shares of the computer maker’s stock valued at $6,871,000 after buying an additional 7,858 shares during the period. ORG Partners LLC raised its position in shares of HP by 241.0% during the 2nd quarter. ORG Partners LLC now owns 1,913 shares of the computer maker’s stock valued at $67,000 after buying an additional 1,352 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of HP by 5.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 96,571 shares of the computer maker’s stock valued at $3,382,000 after buying an additional 5,114 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

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.