RBC Capital Markets restated their sector perform rating on shares of HP Inc. (NYSE:HPQ) in a report issued on Monday morning. The firm currently has a $16.00 price objective on the computer maker’s stock, up from their previous price objective of $14.00.
Several other research analysts also recently commented on the company. Credit Suisse Group AG reiterated a buy rating and issued a $19.00 price objective on shares of HP in a report on Sunday. Vetr downgraded HP from a strong-buy rating to a buy rating and set a $16.12 price objective on the stock. in a report on Monday, September 19th. Morgan Stanley restated a buy rating on shares of HP in a report on Tuesday, September 13th. Brean Capital restated a buy rating and set a $18.00 price target on shares of HP in a report on Tuesday, September 13th. Finally, Jefferies Group restated a buy rating and set a $16.75 price target on shares of HP in a report on Tuesday, September 13th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. HP currently has an average rating of Hold and a consensus target price of $15.15.
HP (NYSE:HPQ) opened at 15.35 on Monday. The firm has a 50-day moving average price of $14.87 and a 200 day moving average price of $13.45. The company has a market cap of $26.26 billion, a price-to-earnings ratio of 8.17 and a beta of 1.55. HP has a one year low of $8.91 and a one year high of $15.88.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. HP had a return on equity of 106.26% and a net margin of 5.41%. The firm earned $11.89 billion during the quarter, compared to analyst estimates of $11.44 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue was down 3.8% compared to the same quarter last year. Equities analysts expect that HP will post $1.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th were paid a $0.124 dividend. The ex-dividend date was Monday, September 12th. This represents a $0.50 dividend on an annualized basis and a yield of 3.23%. HP’s payout ratio is presently 26.74%.
In other HP news, insider Marie Myers sold 10,269 shares of the stock in a transaction dated Monday, August 29th. The shares were 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 owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the transaction, the insider now directly owns 213,582 shares of the company’s stock, valued at approximately $3,203,730. The disclosure for this sale can be found here. 0.51% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC increased its position in HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock valued at $145,000 after buying an additional 807 shares during the period. Cullen Frost Bankers Inc. increased its position in HP by 25.1% in the second quarter. Cullen Frost Bankers Inc. now owns 13,710 shares of the computer maker’s stock valued at $172,000 after buying an additional 2,755 shares during the period. Wealthsource Partners LLC bought a new position in HP during the first quarter valued at approximately $175,000. Wealthfront Inc. increased its position in HP by 27.2% in the second quarter. Wealthfront Inc. now owns 17,036 shares of the computer maker’s stock valued at $214,000 after buying an additional 3,638 shares during the period. Finally, Raymond James Trust N.A. increased its position in HP by 3.4% in the third quarter. Raymond James Trust N.A. now owns 15,483 shares of the computer maker’s stock valued at $240,000 after buying an additional 513 shares during the period. 78.54% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for HP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP Inc. and related companies with MarketBeat.com's FREE daily email newsletter.