HP Target of Unusually High Options Trading (NYSE:HPQ)

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HP Inc. (NYSE:HPQGet Rating) was the recipient of unusually large options trading on Friday. Stock traders purchased 32,656 put options on the stock. This represents an increase of approximately 52% compared to the typical volume of 21,504 put options.

Insiders Place Their Bets

In other HP news, CFO Marie Myers sold 6,219 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $38.95, for a total value of $242,230.05. Following the completion of the transaction, the chief financial officer now owns 22,500 shares in the company, valued at $876,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Enrique Lores sold 34,000 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $32.67, for a total value of $1,110,780.00. Following the completion of the transaction, the chief executive officer now owns 551,204 shares in the company, valued at $18,007,834.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Marie Myers sold 6,219 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $38.95, for a total value of $242,230.05. Following the completion of the transaction, the chief financial officer now owns 22,500 shares of the company’s stock, valued at approximately $876,375. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,719 shares of company stock worth $1,828,345. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HP

Several hedge funds and other institutional investors have recently modified their holdings of HPQ. International Assets Investment Management LLC lifted its stake in shares of HP by 3.0% in the 4th quarter. International Assets Investment Management LLC now owns 31,286 shares of the computer maker’s stock valued at $117,000 after purchasing an additional 916 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of HP by 6.6% during the 4th quarter. Profund Advisors LLC now owns 20,789 shares of the computer maker’s stock valued at $783,000 after buying an additional 1,296 shares during the period. CIBC Asset Management Inc raised its holdings in shares of HP by 2.5% during the 4th quarter. CIBC Asset Management Inc now owns 116,057 shares of the computer maker’s stock valued at $4,372,000 after buying an additional 2,791 shares during the period. Raymond James & Associates raised its holdings in shares of HP by 4.7% during the 4th quarter. Raymond James & Associates now owns 232,682 shares of the computer maker’s stock valued at $8,765,000 after buying an additional 10,469 shares during the period. Finally, Venture Visionary Partners LLC raised its holdings in shares of HP by 12.6% during the 4th quarter. Venture Visionary Partners LLC now owns 17,583 shares of the computer maker’s stock valued at $662,000 after buying an additional 1,974 shares during the period. 81.94% of the stock is owned by institutional investors and hedge funds.

HP Trading Down 8.9 %

Shares of NYSE:HPQ opened at $31.39 on Friday. The stock’s 50-day moving average price is $33.08 and its two-hundred day moving average price is $35.57. HP has a 12-month low of $26.11 and a 12-month high of $41.47. The firm has a market cap of $32.46 billion, a price-to-earnings ratio of 5.65, a PEG ratio of 1.94 and a beta of 0.92.

HP (NYSE:HPQGet Rating) last issued its quarterly earnings results on Tuesday, May 31st. The computer maker reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. HP had a negative return on equity of 188.59% and a net margin of 9.61%. The firm had revenue of $16.49 billion for the quarter, compared to analyst estimates of $16.19 billion. During the same period last year, the company earned $0.93 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that HP will post 4.28 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, September 13th. HP’s dividend payout ratio is currently 17.99%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a research report on Tuesday. Credit Suisse Group assumed coverage on HP in a research report on Tuesday, August 16th. They issued an “outperform” rating and a $39.00 price target for the company. Barclays raised their price target on HP from $29.00 to $32.00 and gave the company an “underweight” rating in a research report on Wednesday, June 1st. JPMorgan Chase & Co. dropped their price objective on HP from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, July 14th. Finally, Morgan Stanley dropped their price objective on HP from $31.00 to $30.00 and set an “underweight” rating for the company in a research report on Thursday, August 11th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $37.08.

About HP

(Get Rating)

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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