Investors purchased shares of HP Inc. (NYSE:HPQ) on weakness during trading hours on Thursday. $89.11 million flowed into the stock on the tick-up and $35.02 million flowed out of the stock on the tick-down, for a money net flow of $54.09 million into the stock. Of all equities tracked, HP had the 13th highest net in-flow for the day. HP traded down ($0.15) for the day and closed at $21.52
A number of analysts have recently issued reports on HPQ shares. ValuEngine upgraded shares of HP from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Mizuho upgraded shares of HP from a “neutral” rating to a “buy” rating and raised their target price for the stock from $20.00 to $21.00 in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Wednesday, July 12th. Susquehanna Bancshares Inc started coverage on shares of HP in a research note on Thursday, July 13th. They set a “neutral” rating and a $20.00 target price for the company. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $21.00 price target on shares of HP in a research report on Friday, July 14th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $21.57.
The firm has a market cap of $35.91 billion, a price-to-earnings ratio of 15.62 and a beta of 1.94. The company has a 50 day moving average of $20.47 and a 200-day moving average of $19.10.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The business had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. During the same period last year, the business earned $0.48 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts predict that HP Inc. will post $1.65 earnings per share for the current year.
In other HP news, insider Marie Myers sold 11,752 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $19.25, for a total transaction of $226,226.00. Following the transaction, the insider now directly owns 11,752 shares in the company, valued at $226,226. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Enrique Lores sold 40,965 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $21.50, for a total transaction of $880,747.50. The disclosure for this sale can be found here. Insiders have sold 1,206,355 shares of company stock worth $24,141,327 over the last quarter. Company insiders own 0.62% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of HPQ. Waldron LP bought a new position in HP during the first quarter valued at approximately $288,000. Teachers Advisors LLC grew its holdings in shares of HP by 4.7% in the first quarter. Teachers Advisors LLC now owns 4,463,707 shares of the computer maker’s stock worth $79,811,000 after purchasing an additional 200,811 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of HP by 4.3% in the first quarter. Thrivent Financial For Lutherans now owns 63,120 shares of the computer maker’s stock worth $1,126,000 after purchasing an additional 2,600 shares during the last quarter. KCG Holdings Inc. bought a new position in shares of HP in the first quarter worth approximately $1,442,000. Finally, Amalgamated Bank grew its holdings in shares of HP by 6.1% in the first quarter. Amalgamated Bank now owns 121,290 shares of the computer maker’s stock worth $2,169,000 after purchasing an additional 7,025 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.
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HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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