HP Inc. (NYSE:HPQ) had its target price hoisted by Citigroup Inc. from $14.00 to $16.00 in a research report report published on Monday morning. They currently have a neutral rating on the computer maker’s stock.
Several other brokerages also recently issued reports on HPQ. Credit Suisse Group AG restated a buy rating and issued a $19.00 price target on shares of HP in a report on Sunday, October 9th. Royal Bank Of Canada increased their price target on HP from $14.00 to $16.00 and gave the stock a sector perform rating in a report on Monday. Deutsche Bank AG increased their price target on HP from $15.00 to $18.00 and gave the stock a buy rating in a report on Monday. RBC Capital Markets restated a sector perform rating and issued a $16.00 price target (up from $14.00) on shares of HP in a report on Monday. Finally, FBN Securities restated a sector perform rating on shares of HP in a report on Thursday, September 8th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. HP presently has an average rating of Hold and a consensus target price of $15.15.
Shares of HP (NYSE:HPQ) opened at 15.15 on Monday. HP has a 12-month low of $8.91 and a 12-month high of $15.88. The firm has a market capitalization of $25.92 billion, a price-to-earnings ratio of 8.07 and a beta of 1.55. The company has a 50-day moving average price of $14.90 and a 200 day moving average price of $13.46.
HP (NYSE:HPQ) last released its earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share for the quarter, beating the 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 had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.44 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts expect that HP will post $1.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th were given a dividend of $0.124 per share. The ex-dividend date was Monday, September 12th. This represents a $0.50 dividend on an annualized basis and a yield of 3.27%. HP’s dividend payout ratio is currently 26.74%.
In related news, insider Marie Myers sold 10,269 shares of the business’s stock in a transaction 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 sale, the insider now owns 22,390 shares in the company, valued at approximately $325,774.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tracy S. Keogh sold 100,000 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $14.50, for a total value of $1,450,000.00. Following the sale, the insider now owns 213,582 shares in the company, valued at approximately $3,096,939. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.
A number of large investors have recently modified their holdings of HPQ. Advisory Services Network LLC raised its stake in shares of HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock worth $145,000 after buying an additional 807 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in shares of 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 last quarter. Wealthsource Partners LLC bought a new position in shares of HP during the first quarter valued at approximately $175,000. Wealthfront Inc. increased its position in shares of 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 last quarter. Finally, Raymond James Trust N.A. increased its position in shares of 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 last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.
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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