Investors Buy High Volume of HP Put Options (HPQ)

HP Inc. (NYSE:HPQ) saw unusually large options trading on Friday. Stock investors bought 6,839 put options on the stock. This represents an increase of approximately 403% compared to the average daily volume of 1,360 put options.

In related news, Director Margaret C. Whitman sold 443,920 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total transaction of $8,576,534.40. Following the completion of the transaction, the director now owns 692,849 shares in the company, valued at approximately $13,385,842.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret C. Whitman sold 295,936 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $19.00, for a total value of $5,622,784.00. Following the transaction, the director now owns 766,825 shares of the company’s stock, valued at approximately $14,569,675. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,127,206 shares of company stock valued at $41,757,043. Insiders own 0.62% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in HPQ. Boston Partners boosted its position in HP by 304.9% in the 2nd quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock valued at $456,535,000 after buying an additional 19,667,780 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in HP in the 1st quarter valued at $79,108,000. Renaissance Technologies LLC bought a new position in HP in the 1st quarter valued at $62,824,000. Parametric Portfolio Associates LLC boosted its position in HP by 87.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock valued at $126,086,000 after buying an additional 3,358,299 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in HP by 26.3% in the 2nd quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock valued at $253,233,000 after buying an additional 3,017,182 shares during the last quarter. Hedge funds and other institutional investors own 79.18% of the company’s stock.

Shares of HP (NYSE HPQ) opened at 20.57 on Wednesday. HP has a 52 week low of $13.77 and a 52 week high of $20.73. The company has a market cap of $34.36 billion, a P/E ratio of 14.95 and a beta of 1.94. The firm’s 50-day moving average price is $19.63 and its 200 day moving average price is $18.74.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The firm had revenue of $13.06 billion for the quarter, compared to analyst estimates of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. On average, equities analysts predict that HP will post $1.65 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were given a $0.1327 dividend. The ex-dividend date was Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.58%. HP’s payout ratio is 38.41%.

A number of research analysts recently issued reports on the company. BidaskClub lowered HP from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and set a $14.00 price objective on shares of HP in a research report on Thursday, August 24th. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday. J P Morgan Chase & Co restated a “neutral” rating and set a $19.50 price objective on shares of HP in a research report on Thursday, August 24th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $21.00 price objective on shares of HP in a research report on Friday, July 1

In related news, Director Margaret C. Whitman sold 443,920 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $19.32, for a total transaction of $8,576,534.40. Following the completion of the transaction, the director now owns 692,849 shares in the company, valued at approximately $13,385,842.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret C. Whitman sold 295,936 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $19.00, for a total value of $5,622,784.00. Following the transaction, the director now owns 766,825 shares of the company’s stock, valued at approximately $14,569,675. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,127,206 shares of company stock valued at $41,757,043. Insiders own 0.62% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in HPQ. Boston Partners boosted its position in HP by 304.9% in the 2nd quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock valued at $456,535,000 after buying an additional 19,667,780 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in HP in the 1st quarter valued at $79,108,000. Renaissance Technologies LLC bought a new position in HP in the 1st quarter valued at $62,824,000. Parametric Portfolio Associates LLC boosted its position in HP by 87.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock valued at $126,086,000 after buying an additional 3,358,299 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in HP by 26.3% in the 2nd quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock valued at $253,233,000 after buying an additional 3,017,182 shares during the last quarter. Hedge funds and other institutional investors own 79.18% of the company’s stock.

Shares of HP (NYSE HPQ) opened at 20.57 on Wednesday. HP has a 52 week low of $13.77 and a 52 week high of $20.73. The company has a market cap of $34.36 billion, a P/E ratio of 14.95 and a beta of 1.94. The firm’s 50-day moving average price is $19.63 and its 200 day moving average price is $18.74.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The firm had revenue of $13.06 billion for the quarter, compared to analyst estimates of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. On average, equities analysts predict that HP will post $1.65 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were given a $0.1327 dividend. The ex-dividend date was Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.58%. HP’s payout ratio is 38.41%.

A number of research analysts recently issued reports on the company. BidaskClub lowered HP from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and set a $14.00 price objective on shares of HP in a research report on Thursday, August 24th. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday. J P Morgan Chase & Co restated a “neutral” rating and set a $19.50 price objective on shares of HP in a research report on Thursday, August 24th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $21.00 price objective on shares of HP in a research report on Friday, July 14th. Nine 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’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.92.

WARNING: This piece was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another website, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece can be read at https://ledgergazette.com/2017/10/11/investors-buy-high-volume-of-hp-put-options-hpq.html.

About HP

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.

Receive News & Ratings for HP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply