Stifel Nicolaus reaffirmed their hold rating on shares of HP Inc. (NYSE:HPQ) in a research note released on Wednesday morning. The brokerage currently has a $14.00 target price on the computer maker’s stock.
Other research analysts have also recently issued research reports about the stock. UBS AG restated a buy rating and set a $22.00 target price (up previously from $20.00) on shares of HP in a research note on Thursday, May 25th. Zacks Investment Research upgraded shares of HP from a hold rating to a buy rating and set a $21.00 target price on the stock in a research note on Tuesday, April 25th. Citigroup Inc. upgraded shares of HP from a neutral rating to a buy rating in a research note on Tuesday, April 18th. Credit Suisse Group restated a buy rating and set a $19.00 target price on shares of HP in a research note on Tuesday, May 23rd. Finally, Bank of America Corporation lifted their target price on shares of HP from $20.00 to $22.00 and gave the company a buy rating in a research note on Thursday, May 25th. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. HP presently has a consensus rating of Buy and a consensus target price of $19.89.
HP (NYSE HPQ) opened at 18.51 on Wednesday. The stock has a 50 day moving average of $18.67 and a 200 day moving average of $17.95. HP has a 12-month low of $13.55 and a 12-month high of $19.58. The company has a market cap of $31.16 billion, a PE ratio of 13.09 and a beta of 1.90.
HP (NYSE:HPQ) last released its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the company earned $0.41 EPS. HP’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts expect that HP will post $1.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be given a $0.1327 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 annualized dividend and a yield of 2.87%. HP’s dividend payout ratio (DPR) is 37.32%.
In other HP news, COO Jon E. Flaxman sold 35,000 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $18.26, for a total value of $639,100.00. Following the completion of the sale, the chief operating officer now directly owns 62,203 shares of the company’s stock, valued at approximately $1,135,826.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Margaret C. Whitman sold 443,920 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total transaction of $8,576,534.40. Following the completion of the sale, the director now directly owns 692,849 shares of the company’s stock, valued at $13,385,842.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,748,815 shares of company stock valued at $32,623,560. 0.62% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in HPQ. CWM LLC boosted its stake in HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares during the period. Parallel Advisors LLC boosted its stake in HP by 0.4% in the first quarter. Parallel Advisors LLC now owns 11,616 shares of the computer maker’s stock valued at $218,000 after buying an additional 41 shares during the period. Montecito Bank & Trust boosted its stake in HP by 0.3% in the second quarter. Montecito Bank & Trust now owns 17,342 shares of the computer maker’s stock valued at $303,000 after buying an additional 60 shares during the period. Savant Capital LLC boosted its stake in HP by 0.3% in the first quarter. Savant Capital LLC now owns 24,276 shares of the computer maker’s stock valued at $434,000 after buying an additional 80 shares during the period. Finally, Destination Wealth Management boosted its stake in HP by 0.5% in the first quarter. Destination Wealth Management now owns 15,603 shares of the computer maker’s stock valued at $279,000 after buying an additional 83 shares during the period. 79.90% of the stock is owned by 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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