HP Inc. (NYSE:HPQ – Free Report) CEO Enrique Lores sold 156,976 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $30.69, for a total value of $4,817,593.44. Following the sale, the chief executive officer now owns 766,268 shares of the company’s stock, valued at approximately $23,516,764.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
HP Stock Performance
Shares of HPQ opened at $30.68 on Thursday. The firm has a market capitalization of $30.25 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 2.30 and a beta of 1.00. The business’s fifty day moving average price is $30.19 and its two-hundred day moving average price is $29.21. HP Inc. has a 52 week low of $24.08 and a 52 week high of $35.32.
HP (NYSE:HPQ – Free Report) last announced its quarterly earnings data on Tuesday, May 30th. The computer maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $12.91 billion for the quarter, compared to analyst estimates of $13.07 billion. HP had a negative return on equity of 121.57% and a net margin of 4.75%. The business’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same period last year, the company earned $1.08 EPS. As a group, research analysts forecast that HP Inc. will post 3.35 EPS for the current year.
HP Dividend Announcement
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in HPQ. Certified Advisory Corp bought a new position in shares of HP in the 1st quarter worth $26,000. GHP Investment Advisors Inc. bought a new position in shares of HP in the 1st quarter worth $29,000. Glass Jacobson Investment Advisors llc bought a new position in shares of HP in the 4th quarter worth $30,000. Jefferies Financial Group Inc. bought a new position in shares of HP in the 4th quarter worth $32,000. Finally, Beacon Capital Management LLC boosted its position in shares of HP by 462.9% in the 4th quarter. Beacon Capital Management LLC now owns 1,244 shares of the computer maker’s stock worth $33,000 after purchasing an additional 1,023 shares during the last quarter. 76.18% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
HPQ has been the subject of a number of research reports. Citigroup initiated coverage on HP in a research report on Thursday, June 29th. They issued a “neutral” rating and a $32.00 price objective for the company. Morgan Stanley upgraded HP from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $28.00 to $31.00 in a research report on Monday, May 1st. Bank of America raised their price objective on HP from $26.00 to $27.00 in a research report on Wednesday, May 31st. The Goldman Sachs Group initiated coverage on HP in a research report on Monday, March 20th. They issued a “neutral” rating and a $26.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded HP from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $30.00 to $35.00 in a research report on Monday, April 17th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $29.88.
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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