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CASHING OUT: HP Inc. CEO Enrique Lores Sells $4.99 Million in Stock Following HSBC Downgrade.

Toner News Mobile › Forums › Toner News Main Forums › CASHING OUT: HP Inc. CEO Enrique Lores Sells $4.99 Million in Stock Following HSBC Downgrade.

Tonernews.com, December 11, 2024. USA
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    HP Inc. CEO Enrique Lores
    Sells $4.99 Million in Stock Following HSBC Downgrade.
    Enrique Lores, President, and CEO of HP Inc. (NYSE: HPQ), recently sold $4.99 million worth of company stock as part of a pre-arranged trading plan. On December 9, Lores sold 137,094 shares of HP common stock at an average price of $36.45, totaling approximately $4.99 million. This sale occurs while HP, with a market valuation of $33.7 billion, is trading at a P/E ratio of 12.4x and offers a 3.34% dividend yield. According to InvestingPro, HP stock is currently considered fairly valued.

    In addition to the sale, Lores exercised several stock options. On December 7, he acquired 169,612 shares through option exercises at prices ranging from $0.00 to $28.48, totaling around $3.01 million. InvestingPro data also shows that HP’s management has been actively repurchasing shares, indicating strong confidence in the company’s future. HP continues to maintain solid financial health, having paid dividends for 54 consecutive years.

    Lores also exercised restricted stock units (RSUs) in multiple transactions on December 7. These included 44,345, 64,333, and 60,934 RSUs, increasing his total stake in HP.

    Following these transactions, Lores directly owns 89,272 shares of HP, while holding an additional 888,908 shares indirectly through a limited partnership. In other recent developments, HP’s stock received a downgrade from HSBC, which lowered its rating from Buy to Hold due to a weaker-than-expected outlook for Q1 Fiscal Year 2025 and rising commodity costs.

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    December 11, 2024 at 4:33 PM
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