HP (NYSE:HPQ) Hits New 12-Month Low Following Insider Selling

HP Inc. (NYSE:HPQ)’s share price reached a new 52-week low on Monday after an insider sold shares in the company. The stock traded as low as $27.30 and last traded at $27.47, with a volume of 449962 shares changing hands. The stock had previously closed at $27.90.

Specifically, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares of the company’s stock, valued at $4,814.81. This trade represents a 99.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Loop Capital lowered their price objective on HP from $35.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company boosted their price target on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. TD Cowen reduced their price objective on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Barclays boosted their target price on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, Morgan Stanley decreased their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.14.

HP Trading Up 0.4 %

The stock has a market capitalization of $26.20 billion, a P/E ratio of 9.89, a P/E/G ratio of 2.96 and a beta of 1.09. The company’s 50-day moving average is $31.28 and its two-hundred day moving average is $33.91.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. Sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is 41.37%.

Institutional Investors Weigh In On HP

Several institutional investors have recently bought and sold shares of HPQ. Amundi raised its position in shares of HP by 15.9% during the 4th quarter. Amundi now owns 6,561,399 shares of the computer maker’s stock worth $217,319,000 after buying an additional 899,349 shares in the last quarter. Principal Financial Group Inc. raised its holdings in HP by 16.1% during the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after purchasing an additional 160,268 shares in the last quarter. Oak Thistle LLC lifted its position in HP by 169.3% in the fourth quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock worth $1,132,000 after purchasing an additional 21,805 shares during the period. Tidal Investments LLC boosted its stake in HP by 47.5% during the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after purchasing an additional 47,230 shares in the last quarter. Finally, MML Investors Services LLC increased its position in shares of HP by 35.0% during the 3rd quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after purchasing an additional 16,207 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

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.