JPMorgan Chase & Co. upgraded shares of HP (NYSE:HPQ) from a neutral rating to an overweight rating in a research report report published on Monday, Marketbeat Ratings reports. They currently have $28.00 price target on the computer maker’s stock, up from their prior price target of $22.13.
HPQ has been the topic of a number of other reports. Citigroup boosted their price target on shares of HP from $23.00 to $27.00 and gave the company a buy rating in a research note on Thursday, January 18th. Loop Capital reissued a buy rating and issued a $28.00 price target on shares of HP in a research note on Monday, January 22nd. Maxim Group reissued a hold rating and issued a $25.00 price target on shares of HP in a research note on Wednesday, November 22nd. Susquehanna Bancshares set a $22.00 price target on shares of HP and gave the company a hold rating in a research note on Friday, February 23rd. Finally, Wells Fargo & Co assumed coverage on shares of HP in a research note on Tuesday, November 14th. They issued a market perform rating and a $21.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $23.94.
HP (HPQ) opened at $23.39 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of -2.31. The firm has a market cap of $38,580.00, a PE ratio of 7.88, a price-to-earnings-growth ratio of 2.04 and a beta of 1.76. HP has a fifty-two week low of $17.03 and a fifty-two week high of $24.10.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 14th will be paid a dividend of $0.1393 per share. This represents a $0.56 annualized dividend and a yield of 2.38%. The ex-dividend date is Tuesday, March 13th. HP’s payout ratio is currently 18.86%.
In related news, insider Ron Coughlin sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $21.48, for a total transaction of $537,000.00. Following the sale, the insider now directly owns 53,173 shares of the company’s stock, valued at approximately $1,142,156.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jon E. Flaxman sold 207,806 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $21.58, for a total transaction of $4,484,453.48. Following the transaction, the chief operating officer now owns 298,538 shares of the company’s stock, valued at approximately $6,442,450.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 631,020 shares of company stock worth $14,134,644. 0.62% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of HPQ. Ark Investment Management LLC grew its holdings in HP by 37.4% during the 2nd quarter. Ark Investment Management LLC now owns 78,615 shares of the computer maker’s stock worth $1,374,000 after acquiring an additional 21,399 shares in the last quarter. Fisher Asset Management LLC grew its holdings in HP by 35.7% during the 3rd quarter. Fisher Asset Management LLC now owns 14,353 shares of the computer maker’s stock worth $286,000 after acquiring an additional 3,779 shares in the last quarter. Calamos Advisors LLC grew its holdings in HP by 3.8% during the 3rd quarter. Calamos Advisors LLC now owns 258,417 shares of the computer maker’s stock worth $5,158,000 after acquiring an additional 9,469 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in HP during the 3rd quarter worth approximately $3,069,000. Finally, OLD National Bancorp IN grew its holdings in HP by 45.5% during the 3rd quarter. OLD National Bancorp IN now owns 45,969 shares of the computer maker’s stock worth $917,000 after acquiring an additional 14,366 shares in the last quarter. Institutional investors own 80.63% of the company’s stock.
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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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