HP (NYSE:HPQ) Shares Gap Down to $20.47

HP Inc. (NYSE:HPQ)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $20.97, but opened at $20.47. HP shares last traded at $20.20, with a volume of 11,302,750 shares trading hands.

A number of equities analysts recently weighed in on the company. Wells Fargo & Co reiterated a “hold” rating on shares of HP in a research report on Tuesday, November 26th. Argus lowered HP from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. set a $19.00 price target on HP and gave the company a “hold” rating in a research report on Friday, August 23rd. ValuEngine upgraded HP from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Citigroup set a $20.00 price target on HP and gave the company a “hold” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. HP has a consensus rating of “Hold” and a consensus price target of $19.91.

The firm has a 50 day moving average of $19.31 and a 200-day moving average of $19.33. The stock has a market capitalization of $30.33 billion, a PE ratio of 9.12, a P/E/G ratio of 4.15 and a beta of 1.44.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.29 billion. HP had a negative return on equity of 241.43% and a net margin of 5.36%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. On average, research analysts expect that HP Inc. will post 2.28 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a $0.176 dividend. This is an increase from HP’s previous quarterly dividend of $0.16. This represents a $0.70 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, December 10th. HP’s dividend payout ratio is currently 31.25%.

In other news, insider Christoph Schell sold 42,804 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $19.99, for a total transaction of $855,651.96. Following the completion of the sale, the insider now directly owns 144,684 shares of the company’s stock, valued at approximately $2,892,233.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Covington Capital Management raised its stake in shares of HP by 10.6% during the 3rd quarter. Covington Capital Management now owns 5,890 shares of the computer maker’s stock worth $111,000 after purchasing an additional 565 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of HP by 12.6% during the 3rd quarter. Penserra Capital Management LLC now owns 5,196 shares of the computer maker’s stock worth $97,000 after purchasing an additional 582 shares in the last quarter. PagnatoKarp Partners LLC raised its stake in shares of HP by 4.4% during the 2nd quarter. PagnatoKarp Partners LLC now owns 14,284 shares of the computer maker’s stock worth $299,000 after purchasing an additional 599 shares in the last quarter. Montecito Bank & Trust raised its stake in shares of HP by 2.8% during the 3rd quarter. Montecito Bank & Trust now owns 24,655 shares of the computer maker’s stock worth $467,000 after purchasing an additional 676 shares in the last quarter. Finally, Kanawha Capital Management LLC raised its stake in shares of HP by 4.7% during the 2nd quarter. Kanawha Capital Management LLC now owns 15,356 shares of the computer maker’s stock worth $319,000 after purchasing an additional 695 shares in the last quarter. 82.87% of the stock is owned by 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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