Traders Sell Shares of HP Inc. (HPQ) on Strength (HPQ)

Traders sold shares of HP Inc. (NYSE:HPQ) on strength during trading hours on Friday. $25.33 million flowed into the stock on the tick-up and $47.03 million flowed out of the stock on the tick-down, for a money net flow of $21.70 million out of the stock. Of all stocks tracked, HP had the 0th highest net out-flow for the day. HP traded up $0.23 for the day and closed at $20.58

Several research analysts have recently issued reports on HPQ shares. BidaskClub downgraded shares of HP from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Morgan Stanley reiterated an “overweight” rating and set a $23.00 price target on shares of HP in a report on Monday, June 26th. ValuEngine upgraded shares of HP from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Mizuho upgraded shares of HP from a “neutral” rating to a “buy” rating and upped their price target for the stock from $20.00 to $21.00 in a report on Monday, July 10th. Finally, Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, July 12th. Ten equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $20.79.

The firm’s 50 day moving average price is $19.51 and its 200-day moving average price is $18.67. The company has a market capitalization of $34.37 billion, a price-to-earnings ratio of 14.96 and a beta of 1.94.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The business had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. Analysts anticipate that HP Inc. will post $1.65 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were paid a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 2.58%. The ex-dividend date was Tuesday, September 12th. HP’s dividend payout ratio is presently 38.41%.

In other HP news, insider Tracy S. Keogh sold 265,600 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $19.90, for a total value of $5,285,440.00. Following the transaction, the insider now owns 165,952 shares in the company, valued at $3,302,444.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marie Myers sold 11,752 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $19.25, for a total transaction of $226,226.00. Following the completion of the transaction, the insider now owns 11,752 shares in the company, valued at approximately $226,226. The disclosure for this sale can be found here. Insiders sold 2,530,169 shares of company stock worth $48,902,046 in the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in HPQ. Waldron LP purchased a new position in shares of HP in the first quarter valued at about $288,000. SG Americas Securities LLC increased its position in shares of HP by 137.0% in the first quarter. SG Americas Securities LLC now owns 1,207,666 shares of the computer maker’s stock valued at $21,593,000 after acquiring an additional 698,189 shares during the period. Cipher Capital LP increased its position in shares of HP by 173.1% in the first quarter. Cipher Capital LP now owns 93,774 shares of the computer maker’s stock valued at $1,677,000 after acquiring an additional 59,431 shares during the period. Victory Capital Management Inc. increased its position in shares of HP by 349.5% in the first quarter. Victory Capital Management Inc. now owns 1,167,239 shares of the computer maker’s stock valued at $20,870,000 after acquiring an additional 907,539 shares during the period. Finally, Atlantic Trust Group LLC increased its position in shares of HP by 31.7% in the first quarter. Atlantic Trust Group LLC now owns 46,012 shares of the computer maker’s stock valued at $823,000 after acquiring an additional 11,069 shares during the period. Hedge funds and other institutional investors own 79.18% of the company’s stock.

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HP Company Profile

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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