HP Inc. (NYSE:HPQ) CEO Enrique Lores Sells 211,501 Shares

HP Inc. (NYSE:HPQ) CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

HP Stock Up 0.7 %

HP stock opened at $33.32 on Friday. The firm has a market capitalization of $32.11 billion, a PE ratio of 11.26, a P/E/G ratio of 2.23 and a beta of 1.07. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The firm’s 50-day simple moving average is $35.29 and its 200 day simple moving average is $32.82.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 EPS. On average, research analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its board has approved a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HPQ. Sawyer & Company Inc grew its holdings in shares of HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after buying an additional 900 shares in the last quarter. Rise Advisors LLC raised its holdings in HP by 377.9% in the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 839 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of HP during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP in the second quarter valued at $34,000. Finally, DecisionPoint Financial LLC acquired a new position in HP in the second quarter valued at $43,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Citigroup raised their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Loop Capital dropped their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Barclays reduced their target price on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Finally, TD Cowen upped their price target on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, HP presently has a consensus rating of “Hold” and a consensus target price of $35.55.

HP Company Profile

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.