Vetr lowered shares of HP Inc. (NYSE:HPQ) from a strong-buy rating to a buy rating in a report issued on Monday morning. They currently have $17.76 target price on the computer maker’s stock.
A number of other equities research analysts have also issued reports on HPQ. RBC Capital Markets restated a sector perform rating and set a $16.00 price target on shares of HP in a report on Friday, October 21st. Mizuho boosted their price target on shares of HP from $12.00 to $14.00 and gave the company a neutral rating in a report on Friday, October 14th. Citigroup Inc. boosted their price target on shares of HP from $14.00 to $16.00 and gave the company a neutral rating in a report on Monday, October 10th. Deutsche Bank AG boosted their price target on shares of HP from $15.00 to $18.00 and gave the company a buy rating in a report on Monday, October 10th. Finally, Royal Bank Of Canada boosted their price target on shares of HP from $14.00 to $16.00 and gave the company a sector perform rating in a report on Monday, October 10th. Fifteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. HP currently has an average rating of Hold and a consensus target price of $15.73.
Shares of HP (NYSE:HPQ) opened at 14.87 on Monday. The stock’s 50 day moving average is $14.98 and its 200 day moving average is $14.00. The stock has a market cap of $25.44 billion, a price-to-earnings ratio of 7.92 and a beta of 1.53. HP has a 52-week low of $8.91 and a 52-week high of $16.19.
HP (NYSE:HPQ) last released its earnings results on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. HP had a net margin of 5.17% and a negative return on equity of 61.38%. The business had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $11.89 billion. During the same period in the previous year, the firm earned $0.93 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts expect that HP will post $1.60 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a dividend of $0.1327 per share. The ex-dividend date is Monday, December 12th. This represents a $0.53 dividend on an annualized basis and a yield of 3.57%. This is a positive change from HP’s previous quarterly dividend of $0.12. HP’s dividend payout ratio is currently 35.21%.
In other HP news, insider Marie Myers sold 10,269 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.55, for a total transaction of $149,413.95. Following the sale, the insider now owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the sale, the insider now directly owns 213,582 shares in the company, valued at approximately $3,203,730. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Exxonmobil Investment Management Inc. TX raised its stake in shares of HP by 5.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 442,791 shares of the computer maker’s stock worth $5,557,000 after buying an additional 22,392 shares in the last quarter. Quotient Investors LLC acquired a new position in shares of HP during the second quarter valued at about $630,000. Visionary Asset Management Inc. raised its position in shares of HP by 3.0% in the second quarter. Visionary Asset Management Inc. now owns 219,612 shares of the computer maker’s stock valued at $2,760,000 after buying an additional 6,466 shares during the period. New Century Advisors LLC raised its position in shares of HP by 28.6% in the second quarter. New Century Advisors LLC now owns 224,800 shares of the computer maker’s stock valued at $2,819,000 after buying an additional 50,000 shares during the period. Finally, Adams Asset Advisors LLC raised its position in shares of HP by 9.0% in the second quarter. Adams Asset Advisors LLC now owns 237,390 shares of the computer maker’s stock valued at $2,979,000 after buying an additional 19,520 shares during the period. 79.49% of the stock is currently owned by hedge funds and other institutional investors.
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HP Company Profile
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.
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