Investors Sell HP (HPQ) on Strength (HPQ)

Investors sold shares of HP Inc (NYSE:HPQ) on strength during trading hours on Wednesday. $19.82 million flowed into the stock on the tick-up and $38.25 million flowed out of the stock on the tick-down, for a money net flow of $18.43 million out of the stock. Of all equities tracked, HP had the 19th highest net out-flow for the day. HP traded up $0.04 for the day and closed at $21.27

Several brokerages recently issued reports on HPQ. Zacks Investment Research cut shares of HP from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Loop Capital restated a “buy” rating and issued a $25.00 target price on shares of HP in a report on Wednesday, November 22nd. Morgan Stanley restated a “hold” rating and issued a $14.00 target price on shares of HP in a report on Wednesday, November 22nd. Royal Bank of Canada restated a “hold” rating on shares of HP in a report on Wednesday, November 22nd. Finally, Deutsche Bank restated a “buy” rating and issued a $25.00 target price on shares of HP in a report on Wednesday, November 22nd. Twelve investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $21.31.

The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of -1.98. The stock has a market cap of $34,780.00, a PE ratio of 14.37, a price-to-earnings-growth ratio of 2.25 and a beta of 1.80.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 21st. The computer maker reported $0.44 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. HP had a net margin of 4.85% and a negative return on equity of 70.25%. The business had revenue of $13.93 billion for the quarter, compared to the consensus estimate of $13.36 billion. During the same period last year, the firm earned $0.36 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. equities analysts forecast that HP Inc will post 1.79 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be given a $0.1393 dividend. The ex-dividend date is Tuesday, December 12th. This is an increase from HP’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 2.62%. HP’s dividend payout ratio (DPR) is presently 37.84%.

In other news, insider Marie Myers sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $21.55, for a total transaction of $215,500.00. Following the sale, the insider now directly owns 21,966 shares in the company, valued at approximately $473,367.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jon E. Flaxman sold 271,968 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $21.34, for a total transaction of $5,803,797.12. Following the sale, the chief operating officer now owns 243,096 shares in the company, valued at $5,187,668.64. The disclosure for this sale can be found here. Insiders sold 1,086,801 shares of company stock worth $23,116,803 over the last quarter. Insiders own 0.62% of the company’s stock.

Several hedge funds have recently made changes to their positions in HPQ. CAPROCK Group Inc. increased its holdings in HP by 104.5% in the 3rd quarter. CAPROCK Group Inc. now owns 43,348 shares of the computer maker’s stock valued at $871,000 after acquiring an additional 22,150 shares during the last quarter. Swiss National Bank increased its holdings in HP by 0.6% in the 3rd quarter. Swiss National Bank now owns 6,208,592 shares of the computer maker’s stock valued at $123,923,000 after acquiring an additional 34,800 shares during the last quarter. Meyer Handelman Co. increased its holdings in HP by 3.1% in the 3rd quarter. Meyer Handelman Co. now owns 449,414 shares of the computer maker’s stock valued at $8,971,000 after acquiring an additional 13,600 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in HP by 43.9% in the 3rd quarter. State of Wisconsin Investment Board now owns 2,151,950 shares of the computer maker’s stock valued at $42,953,000 after acquiring an additional 656,546 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in HP by 17.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,829,133 shares of the computer maker’s stock valued at $96,389,000 after acquiring an additional 716,899 shares during the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.

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About HP

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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