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

HP Inc. (NYSE:HPQ) CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated 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 directly owns 3 shares of the company’s stock, valued at $99.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

HP Price Performance

HPQ opened at $33.32 on Friday. The stock has a market capitalization of $32.11 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07. The company’s 50 day simple moving average is $35.29 and its 200-day simple moving average is $32.84. HP Inc. has a one year low of $25.22 and a one year high of $39.52.

HP (NYSE:HPQ) last announced its quarterly earnings data 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 firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 earnings per share. As a group, analysts anticipate that HP Inc. will post 3.39 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company boosted their price target on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Barclays lowered their price target on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. UBS Group lifted their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, HP currently has an average rating of “Hold” and a consensus price target of $35.55.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Heritage Wealth Management Inc. bought a new position in shares of HP in the 2nd quarter worth $1,549,000. Sanctuary Advisors LLC bought a new position in HP during the second quarter worth about $3,373,000. PVG Asset Management Corp bought a new stake in shares of HP in the 2nd quarter valued at about $212,000. Cetera Investment Advisers raised its position in shares of HP by 14.5% in the 2nd quarter. Cetera Investment Advisers now owns 125,398 shares of the computer maker’s stock valued at $4,391,000 after acquiring an additional 15,905 shares during the period. Finally, Truist Financial Corp boosted its stake in HP by 4.5% during the 2nd quarter. Truist Financial Corp now owns 176,513 shares of the computer maker’s stock worth $6,181,000 after acquiring an additional 7,678 shares during the last quarter. Institutional investors 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.