ValuEngine downgraded shares of HP (NYSE:HPQ) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.
A number of other research firms have also weighed in on HPQ. Morgan Stanley lowered shares of HP from an overweight rating to an equal weight rating and set a $25.00 target price for the company. in a research report on Tuesday, January 23rd. Loop Capital reissued a buy rating and set a $28.00 target price on shares of HP in a research report on Monday, January 22nd. Zacks Investment Research lowered shares of HP from a hold rating to a sell rating in a research report on Thursday, January 25th. Citigroup boosted their target price on shares of HP from $23.00 to $27.00 and gave the stock a buy rating in a research report on Thursday, January 18th. Finally, Mizuho lowered shares of HP from a buy rating to a neutral rating and set a $23.00 target price for the company. in a research report on Thursday, February 1st. They noted that the move was a valuation call. Twelve research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $23.94.
HP (HPQ) opened at $24.65 on Wednesday. The firm has a market cap of $40,459.87, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 2.14 and a beta of 1.69. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of -2.31. HP has a 52-week low of $17.03 and a 52-week high of $24.75.
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 $0.1393 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.56 dividend on an annualized basis and a yield of 2.26%. HP’s payout ratio is currently 24.45%.
In related news, insider Kim M. Rivera sold 14,635 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $21.08, for a total value of $308,505.80. Following the sale, the insider now owns 79,553 shares of the company’s stock, valued at $1,676,977.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Enrique Lores sold 302,893 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $23.31, for a total transaction of $7,060,435.83. Following the completion of the sale, the insider now directly owns 88,901 shares in the company, valued at approximately $2,072,282.31. The disclosure for this sale can be found here. In the last three months, insiders sold 606,020 shares of company stock worth $13,597,644. 0.25% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Partners increased its stake in HP by 2.7% in the fourth quarter. Boston Partners now owns 39,146,333 shares of the computer maker’s stock valued at $822,464,000 after acquiring an additional 1,034,661 shares during the period. Geode Capital Management LLC increased its stake in HP by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 18,775,726 shares of the computer maker’s stock valued at $393,693,000 after acquiring an additional 453,513 shares during the period. Wells Fargo & Company MN grew its stake in HP by 9.8% during the third quarter. Wells Fargo & Company MN now owns 15,902,375 shares of the computer maker’s stock worth $317,411,000 after buying an additional 1,415,318 shares during the last quarter. Capital International Investors grew its stake in HP by 4.5% during the third quarter. Capital International Investors now owns 15,501,200 shares of the computer maker’s stock worth $309,404,000 after buying an additional 672,800 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in HP by 19.8% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 12,557,886 shares of the computer maker’s stock worth $212,366,000 after buying an additional 2,074,500 shares during the last quarter. 79.70% of the stock is currently owned by institutional investors and hedge funds.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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