Jefferies Group LLC restated their hold rating on shares of HP Inc. (NYSE:HPQ) in a research report released on Sunday. Jefferies Group LLC currently has a $20.00 price target on the computer maker’s stock.
A number of other research analysts have also recently commented on HPQ. BidaskClub cut HP from a strong-buy rating to a buy rating in a research note on Tuesday, August 1st. Stifel Nicolaus reiterated a hold rating and issued a $14.00 price objective on shares of HP in a research note on Thursday, August 24th. J P Morgan Chase & Co reiterated a neutral rating and issued a $19.50 price objective on shares of HP in a research note on Thursday, August 24th. Royal Bank Of Canada reiterated a hold rating and issued a $21.00 price objective on shares of HP in a research note on Friday, July 14th. Finally, Mizuho upgraded HP from a neutral rating to a buy rating and increased their price objective for the company from $20.00 to $21.00 in a research note on Monday, July 10th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. HP has an average rating of Buy and an average price target of $20.92.
HP (NYSE HPQ) opened at 20.41 on Friday. The firm’s 50-day moving average price is $19.67 and its 200 day moving average price is $18.75. The stock has a market capitalization of $34.09 billion, a P/E ratio of 14.83 and a beta of 1.94. HP has a 12-month low of $13.77 and a 12-month high of $20.73.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that HP will post $1.65 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were issued a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Tuesday, September 12th. HP’s dividend payout ratio is currently 38.41%.
In related news, insider Tracy S. Keogh sold 265,600 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $19.90, for a total transaction of $5,285,440.00. Following the transaction, the insider now owns 165,952 shares of the company’s stock, valued at $3,302,444.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Enrique Lores sold 40,965 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $20.50, for a total value of $839,782.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,127,206 shares of company stock worth $41,757,043. Corporate insiders own 0.62% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its holdings in shares of HP by 0.4% during the first quarter. Parallel Advisors LLC now owns 11,616 shares of the computer maker’s stock worth $218,000 after buying an additional 41 shares during the last quarter. Montecito Bank & Trust grew its holdings in shares of HP by 0.3% during the second quarter. Montecito Bank & Trust now owns 17,342 shares of the computer maker’s stock worth $303,000 after buying an additional 60 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of HP by 1.1% during the second quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock worth $132,000 after buying an additional 85 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of HP by 0.7% during the second quarter. Rehmann Capital Advisory Group now owns 17,435 shares of the computer maker’s stock worth $305,000 after buying an additional 127 shares during the last quarter. Finally, Advisor Partners LLC grew its holdings in shares of HP by 0.4% during the second quarter. Advisor Partners LLC now owns 43,215 shares of the computer maker’s stock worth $755,000 after buying an additional 158 shares during the last quarter. 79.18% of the stock is currently 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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