Stock Traders Buy High Volume of Put Options on HP (NYSE:HPQ)

HP Inc. (NYSE:HPQ) was the target of unusually large options trading activity on Thursday. Stock traders purchased 19,974 put options on the company. This represents an increase of 56% compared to the average daily volume of 12,776 put options.

HP Stock Down 5.0 %

NYSE HPQ opened at $22.58 on Friday. The firm has a market capitalization of $21.29 billion, a PE ratio of 8.04, a P/E/G ratio of 2.96 and a beta of 1.09. The stock’s 50 day moving average is $30.78 and its 200 day moving average is $33.72. HP has a twelve month low of $21.96 and a twelve month high of $39.80.

HP (NYSE:HPQ) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. On average, research analysts anticipate that HP will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.13%. HP’s dividend payout ratio is presently 41.37%.

Analysts Set New Price Targets

A number of equities research analysts have commented on HPQ shares. TD Cowen reduced their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, February 28th. StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a research note on Thursday, March 27th. Loop Capital dropped their price target on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. Wells Fargo & Company raised their price objective on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Finally, Sanford C. Bernstein upped their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, HP has an average rating of “Hold” and an average target price of $36.14.

Insider Buying and Selling

In other news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was 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 owns 169 shares in the company, valued at $4,814.81. This trade represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On HP

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC bought a new position in HP in the fourth quarter worth approximately $26,000. Stonebridge Financial Group LLC bought a new position in HP in the 4th quarter worth $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in HP during the fourth quarter valued at $36,000. OFI Invest Asset Management bought a new stake in HP during the fourth quarter valued at about $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in HP in the third quarter worth about $40,000. Hedge funds and other 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.