Investors Buy Shares of HP (HPQ) on Weakness

Investors bought shares of HP Inc. (NYSE:HPQ) on weakness during trading on Friday. $70.01 million flowed into the stock on the tick-up and $26.81 million flowed out of the stock on the tick-down, for a money net flow of $43.20 million into the stock. Of all stocks tracked, HP had the 28th highest net in-flow for the day. HP traded down ($0.30) for the day and closed at $21.17

A number of analysts have commented on HPQ shares. Bank of America upped their target price on shares of HP from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, October 4th. UBS Group upped their target price on shares of HP from $29.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, October 4th. Maxim Group upped their target price on shares of HP from $29.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, October 4th. ValuEngine raised shares of HP from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Tuesday, October 9th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. HP presently has a consensus rating of “Hold” and an average price target of $26.67.

The stock has a market capitalization of $32.95 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 2.05 and a beta of 1.41.

HP (NYSE:HPQ) last issued its earnings results on Thursday, November 29th. The computer maker reported $0.54 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.54. HP had a net margin of 9.11% and a negative return on equity of 188.62%. The firm had revenue of $15.37 billion during the quarter, compared to analyst estimates of $15.13 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. HP’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts anticipate that HP Inc. will post 2.17 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Thursday, December 13th were given a dividend of $0.1602 per share. This is a positive change from HP’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, December 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.03%. HP’s dividend payout ratio is currently 31.68%.

In other HP news, insider Alex Cho sold 28,774 shares of the stock in a transaction on Friday, December 14th. The shares were sold at an average price of $22.30, for a total transaction of $641,660.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dion J. Weisler sold 116,134 shares of the stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $22.99, for a total transaction of $2,669,920.66. Following the transaction, the insider now owns 1,248,276 shares of the company’s stock, valued at approximately $28,697,865.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,248 shares of company stock valued at $6,658,061. 0.25% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Csenge Advisory Group bought a new position in HP during the third quarter valued at $60,000. Cerebellum GP LLC bought a new position in HP during the fourth quarter valued at $152,000. Capital Advisors Ltd. LLC lifted its position in HP by 6,530.8% during the third quarter. Capital Advisors Ltd. LLC now owns 7,095 shares of the computer maker’s stock valued at $183,000 after purchasing an additional 6,988 shares during the last quarter. United Capital Management of KS Inc. bought a new position in HP during the third quarter valued at $201,000. Finally, Truvestments Capital LLC purchased a new stake in shares of HP in the second quarter valued at $204,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

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HP Company Profile (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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