HP (NYSE:HPQ) Stock: Insider David Mcquarrie Sells 31,572 Shares

Key Points

• HP insider David Mcquarrie sold 31,572 shares at an average price of $32.12, generating approximately $1.01 million. The Rule 10b5-1 transaction reduced his direct ownership by 79.77% to 8,008 shares.
• HP shares rose 1.0% to $31.78, while the company’s latest quarterly results exceeded expectations: adjusted EPS was $0.83 versus a $0.66 estimate, and revenue increased 12.5% year over year to $15.68 billion.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $25.77, despite substantial recent institutional buying and institutional ownership of 77.53%.

HP Inc. (NYSE:HPQ - Get Free Report) insider David Mcquarrie sold 31,572 shares of the company's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $32.12, for a total transaction of $1,014,092.64. Following the completion of the sale, the insider directly owned 8,008 shares in the company, valued at $257,216.96. This represents a 79.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

HP Trading Up 1.0%

HPQ stock traded up $0.31 during mid-day trading on Tuesday, hitting $31.78. 9,945,467 shares of the company were exchanged, compared to its average volume of 18,028,174. The company has a market capitalization of $28.66 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.67 and a beta of 1.17. The firm has a fifty day simple moving average of $30.84 and a 200 day simple moving average of $25.25. HP Inc. has a twelve month low of $17.56 and a twelve month high of $36.22.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The computer maker reported $0.83 EPS for the quarter, topping the consensus estimate of $0.66 by $0.17. The business had revenue of $15.68 billion for the quarter, compared to analysts' expectations of $14.44 billion. HP had a net margin of 4.14% and a negative return on equity of 947.78%. The company's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 earnings per share. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. As a group, sell-side analysts anticipate that HP Inc. will post 3.23 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in HP in the second quarter valued at $2,357,757,000. Primecap Management Co. CA bought a new stake in shares of HP during the second quarter valued at approximately $545,984,000. Legal & General Group Plc bought a new stake in shares of HP during the second quarter valued at approximately $180,689,000. Man Group plc acquired a new position in shares of HP during the second quarter worth approximately $149,223,000. Finally, Deutsche Bank AG acquired a new position in shares of HP during the second quarter worth approximately $140,172,000. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HPQ has been the subject of a number of research reports. The Goldman Sachs Group lifted their price objective on shares of HP from $19.00 to $21.00 and gave the stock a "sell" rating in a report on Wednesday, August 12th. UBS Group increased their target price on shares of HP from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, August 27th. Zacks Research upgraded shares of HP from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 7th. Barclays lifted their price target on shares of HP from $19.00 to $23.00 and gave the company an "underweight" rating in a report on Friday, August 28th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and set a $32.00 price objective on shares of HP in a research report on Thursday, August 27th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, HP currently has a consensus rating of "Hold" and an average target price of $25.77.

HP Company Profile

HP Inc NYSE: HPQ is a global technology company that develops and sells personal computing and printing products, services, and solutions. Its portfolio includes laptops, desktop computers, workstations, monitors, accessories, and other peripherals for consumers and businesses.

The company's printing business provides printers, multifunction devices, digital presses, supplies such as ink and toner, and related services and solutions. HP also offers managed print services, device and lifecycle management, and other technology services designed to support workplace productivity and hybrid work environments.

HP traces its origins to Hewlett-Packard, founded in 1939 by Bill Hewlett and Dave Packard.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.