A number of other brokerages also recently weighed in on HPQ. Credit Suisse Group AG restated a buy rating and set a $19.00 price objective on shares of HP in a research report on Sunday. Royal Bank Of Canada increased their price objective on shares of HP from $14.00 to $16.00 and gave the company a sector perform rating in a research report on Monday. RBC Capital Markets restated a sector perform rating and set a $16.00 price objective (up previously from $14.00) on shares of HP in a research report on Monday. FBN Securities restated a sector perform rating on shares of HP in a research report on Thursday, September 8th. Finally, Jefferies Group restated a buy rating and set a $16.75 price objective on shares of HP in a research report on Wednesday, September 7th. Eighteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $15.15.
HP (NYSE:HPQ) opened at 15.35 on Monday. The stock’s 50 day moving average is $14.87 and its 200-day moving average is $13.45. The stock has a market capitalization of $26.26 billion, a price-to-earnings ratio of 8.17 and a beta of 1.55. HP has a 52-week low of $8.91 and a 52-week high of $15.88.
HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 24th. The computer maker reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.44 billion. HP had a net margin of 5.41% and a return on equity of 106.26%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Equities research analysts anticipate that HP will post $1.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were issued a $0.124 dividend. The ex-dividend date was Monday, September 12th. This represents a $0.50 annualized dividend and a dividend yield of 3.23%. HP’s dividend payout ratio is currently 26.74%.
In other news, insider Tracy S. Keogh sold 100,000 shares of HP stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $14.50, for a total value of $1,450,000.00. Following the transaction, the insider now owns 213,582 shares of the company’s stock, valued at approximately $3,096,939. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marie Myers sold 10,269 shares of HP stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $14.55, for a total transaction of $149,413.95. Following the completion of the transaction, the insider now directly owns 22,390 shares in the company, valued at approximately $325,774.50. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. purchased a new position in shares of HP during the second quarter worth about $26,430,000. Geode Capital Management LLC increased its position in shares of HP by 5.6% in the first quarter. Geode Capital Management LLC now owns 15,103,402 shares of the computer maker’s stock worth $185,720,000 after buying an additional 799,445 shares during the last quarter. PineBridge Investments L.P. increased its position in shares of HP by 333.7% in the second quarter. PineBridge Investments L.P. now owns 414,298 shares of the computer maker’s stock worth $5,199,000 after buying an additional 318,772 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of HP by 21.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,459,365 shares of the computer maker’s stock worth $18,315,000 after buying an additional 261,510 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of HP by 90.4% in the second quarter. Victory Capital Management Inc. now owns 293,655 shares of the computer maker’s stock worth $3,686,000 after buying an additional 139,443 shares during the last quarter. 78.54% of the stock is currently owned by hedge funds and other institutional investors.
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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