HP Inc. (NYSE:HPQ) Director Sells $560,000.00 in Stock

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HP Inc. (NYSE:HPQ) Director Shumeet Banerji sold 28,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $20.00, for a total transaction of $560,000.00. Following the completion of the transaction, the director now directly owns 31,311 shares of the company’s stock, valued at $626,220. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

HP stock traded up $0.06 during mid-day trading on Wednesday, hitting $19.92. 10,720,529 shares of the company’s stock traded hands, compared to its average volume of 11,349,396. HP Inc. has a fifty-two week low of $18.06 and a fifty-two week high of $27.08. The company has a market capitalization of $29.69 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 2.97 and a beta of 1.34.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, May 23rd. The computer maker reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. HP had a negative return on equity of 232.81% and a net margin of 6.67%. The business had revenue of $14.04 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the firm posted $0.48 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts expect that HP Inc. will post 2.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 12th will be issued a dividend of $0.1602 per share. This represents a $0.64 annualized dividend and a yield of 3.22%. The ex-dividend date is Tuesday, June 11th. HP’s dividend payout ratio is 31.68%.

A number of institutional investors have recently made changes to their positions in HPQ. Norges Bank acquired a new stake in HP during the 4th quarter valued at $334,781,000. Oregon Public Employees Retirement Fund lifted its holdings in HP by 2,609.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,544,575 shares of the computer maker’s stock valued at $564,000 after purchasing an additional 11,118,507 shares during the last quarter. AQR Capital Management LLC lifted its holdings in HP by 44.2% during the 1st quarter. AQR Capital Management LLC now owns 18,796,913 shares of the computer maker’s stock valued at $362,686,000 after purchasing an additional 5,761,703 shares during the last quarter. Wellington Management Group LLP lifted its holdings in HP by 11.3% during the 1st quarter. Wellington Management Group LLP now owns 40,091,315 shares of the computer maker’s stock valued at $778,975,000 after purchasing an additional 4,084,488 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in HP by 618.3% during the 4th quarter. Millennium Management LLC now owns 3,497,565 shares of the computer maker’s stock valued at $71,560,000 after purchasing an additional 3,010,663 shares during the last quarter. 80.44% of the stock is owned by institutional investors and hedge funds.

Several research firms recently weighed in on HPQ. Zacks Investment Research raised shares of HP from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine cut shares of HP from a “hold” rating to a “sell” rating in a research note on Saturday, June 1st. Evercore ISI began coverage on shares of HP in a research note on Wednesday, June 5th. They issued an “outperform” rating and a $23.00 target price for the company. Morgan Stanley raised their target price on shares of HP from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, May 24th. Finally, Wolfe Research cut shares of HP from an “outperform” rating to a “peer perform” rating and decreased their target price for the company from $25.00 to $21.00 in a research note on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $25.26.

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About HP

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.

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