Traders Sell HP (HPQ) on Strength (HPQ)
Traders sold shares of HP Inc. (NYSE:HPQ) on strength during trading on Thursday. $27.65 million flowed into the stock on the tick-up and $54.29 million flowed out of the stock on the tick-down, for a money net flow of $26.64 million out of the stock. Of all stocks tracked, HP had the 0th highest net out-flow for the day. HP traded up $0.14 for the day and closed at $24.63
A number of analysts have recently issued reports on the company. Susquehanna Bancshares set a $24.00 target price on HP and gave the company a “hold” rating in a report on Friday. Deutsche Bank increased their target price on HP from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Co increased their target price on HP from $21.00 to $26.00 and gave the company a “market perform” rating in a report on Friday. Morgan Stanley upped their price target on shares of HP from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Maxim Group upped their price target on shares of HP from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. HP has a consensus rating of “Hold” and a consensus price target of $25.94.
The company has a debt-to-equity ratio of -2.41, a quick ratio of 0.60 and a current ratio of 0.84. The company has a market capitalization of $39.44 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Wednesday, September 12th will be paid a $0.1393 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Tuesday, September 11th. HP’s dividend payout ratio (DPR) is presently 33.94%.
In other HP news, insider Tracy S. Keogh sold 117,275 shares of the stock in a transaction on Monday, June 11th. The shares were sold at an average price of $24.00, for a total transaction of $2,814,600.00. Following the transaction, the insider now directly owns 243,526 shares of the company’s stock, valued at $5,844,624. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Marie Myers sold 8,470 shares of the stock in a transaction on Friday, June 29th. The stock was sold at an average price of $22.85, for a total transaction of $193,539.50. Following the transaction, the insider now directly owns 8,470 shares in the company, valued at $193,539.50. The disclosure for this sale can be found here. Insiders have sold 243,021 shares of company stock worth $5,705,488 over the last three months. Company insiders own 0.25% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Mount Yale Investment Advisors LLC increased its position in HP by 6.1% during the second quarter. Mount Yale Investment Advisors LLC now owns 338,721 shares of the computer maker’s stock worth $7,686,000 after buying an additional 19,339 shares during the last quarter. Rice Partnership LLC increased its position in HP by 27.1% during the second quarter. Rice Partnership LLC now owns 73,303 shares of the computer maker’s stock worth $1,663,000 after buying an additional 15,634 shares during the last quarter. Andra AP fonden acquired a new position in HP during the second quarter worth $10,204,000. Global X Management Co LLC increased its position in HP by 176.9% during the second quarter. Global X Management Co LLC now owns 45,102 shares of the computer maker’s stock worth $1,023,000 after buying an additional 28,811 shares during the last quarter. Finally, MAI Capital Management increased its position in HP by 16.5% during the second quarter. MAI Capital Management now owns 16,542 shares of the computer maker’s stock worth $375,000 after buying an additional 2,348 shares during the last quarter. 79.43% of the stock is currently owned by hedge funds and other institutional investors.
About HP (NYSE:HPQ)
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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