HP Inc. (NYSE:HPQ) had its price target hoisted by Citigroup Inc. from $20.00 to $23.00 in a research report released on Friday morning. They currently have a buy rating on the computer maker’s stock.
Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada raised shares of HP from a sector perform rating to an outperform rating and lifted their price objective for the company from $21.00 to $22.00 in a research note on Thursday, July 20th. Stifel Nicolaus reissued a hold rating and issued a $14.00 price objective on shares of HP in a research note on Thursday, August 24th. BMO Capital Markets reissued a hold rating and issued a $20.00 price objective on shares of HP in a research note on Thursday, August 24th. Mizuho reissued a buy rating and issued a $21.00 price objective on shares of HP in a research note on Thursday, August 24th. Finally, Guggenheim reissued a neutral rating on shares of HP in a research note on Monday, October 2nd. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $21.27.
Shares of HP (NYSE:HPQ) opened at 21.79 on Friday. HP has a 12-month low of $13.77 and a 12-month high of $22.00. The firm has a market capitalization of $36.39 billion, a P/E ratio of 15.84 and a beta of 1.94. The firm’s 50-day moving average price is $19.79 and its 200-day moving average price is $18.81.
HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. Equities analysts predict that HP will post $1.65 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were paid a $0.1327 dividend. This represents a $0.53 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Tuesday, September 12th. HP’s dividend payout ratio (DPR) is currently 38.41%.
In other HP news, CEO Dion J. Weisler sold 95,521 shares of HP stock in a transaction on Monday, September 25th. The shares were sold at an average price of $19.97, for a total value of $1,907,554.37. Following the completion of the sale, the chief executive officer now directly owns 435,018 shares of the company’s stock, valued at $8,687,309.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Tracy S. Keogh sold 265,600 shares of HP stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $19.90, for a total transaction of $5,285,440.00. Following the completion of the sale, the insider now directly owns 165,952 shares of the company’s stock, valued at $3,302,444.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,168,171 shares of company stock valued at $42,637,791. Insiders own 0.62% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fulton Bank N.A. increased its stake in HP by 42.4% in the third quarter. Fulton Bank N.A. now owns 41,869 shares of the computer maker’s stock valued at $835,000 after purchasing an additional 12,457 shares in the last quarter. W. E. Donoghue & Co. LLC bought a new stake in HP in the second quarter valued at $15,889,000. Achmea Investment Management B.V. increased its stake in HP by 1.9% in the second quarter. Achmea Investment Management B.V. now owns 365,859 shares of the computer maker’s stock valued at $6,393,000 after purchasing an additional 6,828 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in HP by 2.4% in the second quarter. Lord Abbett & CO. LLC now owns 1,389,100 shares of the computer maker’s stock valued at $24,281,000 after purchasing an additional 32,100 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in HP by 24.6% in the second quarter. Toronto Dominion Bank now owns 571,079 shares of the computer maker’s stock valued at $9,981,000 after purchasing an additional 112,883 shares in the last quarter. 79.17% of the stock is owned by hedge funds and other institutional investors.
HP Company Profile
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.
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