HP Inc. (NYSE:HPQ) had its price target increased by Royal Bank Of Canada from $22.00 to $26.00 in a research note released on Wednesday morning, MarketBeat Ratings reports. The firm currently has an outperform rating on the computer maker’s stock.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded HP from a hold rating to a buy rating and set a $20.00 price objective on the stock in a report on Wednesday, July 12th. Mizuho upgraded HP from a neutral rating to a buy rating and raised their price objective for the stock from $20.00 to $21.00 in a report on Monday, July 10th. BidaskClub downgraded HP from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. Loop Capital started coverage on HP in a report on Tuesday, August 22nd. They issued a buy rating and a $23.00 price objective on the stock. Finally, Deutsche Bank AG restated a buy rating on shares of HP in a report on Thursday, August 24th. Nine analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $21.44.
Shares of HP (HPQ) traded up 0.27% during mid-day trading on Wednesday, reaching $22.02. 8,621,009 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $20.15 and a 200 day moving average price of $18.95. HP has a 52 week low of $13.83 and a 52 week high of $22.16. The stock has a market cap of $36.78 billion, a price-to-earnings ratio of 16.00 and a beta of 1.94.
HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The company had revenue of $13.06 billion for the quarter, compared to the consensus estimate of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $0.48 EPS. Equities research analysts predict that HP will post $1.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were given a dividend of $0.1327 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.41%. HP’s dividend payout ratio is currently 38.41%.
In related news, insider Enrique Lores sold 40,965 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $21.50, for a total transaction of $880,747.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marie Myers sold 11,752 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $19.25, for a total value of $226,226.00. Following the transaction, the insider now owns 11,752 shares of the company’s stock, valued at approximately $226,226. The disclosure for this sale can be found here. Insiders have sold a total of 1,872,235 shares of company stock valued at $37,015,007 in the last 90 days. Insiders own 0.62% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. boosted its position in HP by 19.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock valued at $108,000 after purchasing an additional 1,013 shares during the period. American Beacon Advisors Inc. acquired a new position in HP during the 1st quarter valued at approximately $112,000. YorkBridge Wealth Partners LLC boosted its position in HP by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock valued at $113,000 after purchasing an additional 200 shares during the period. First Command Bank boosted its position in HP by 80.0% during the 2nd quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after purchasing an additional 2,984 shares during the period. Finally, Evercore Wealth Management LLC boosted its position in HP by 14.0% during the 2nd quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock valued at $119,000 after purchasing an additional 836 shares during the period. Institutional investors and hedge funds own 79.17% of the company’s stock.
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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