Several other brokerages have also weighed in on HPQ. Jefferies Group LLC reaffirmed a hold rating and issued a $20.00 target price on shares of HP in a research report on Sunday, October 8th. Zacks Investment Research upgraded HP from a hold rating to a buy rating and set a $23.00 price target for the company in a report on Tuesday, October 10th. Deutsche Bank AG reiterated a buy rating and issued a $23.00 price target (up from $22.00) on shares of HP in a report on Friday, October 6th. Guggenheim reiterated a neutral rating on shares of HP in a report on Monday, October 2nd. Finally, BMO Capital Markets reiterated a hold rating and issued a $20.00 price target on shares of HP in a report on Thursday, August 24th. Nine research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $21.27.
HP (HPQ) opened at 21.79 on Friday. The firm has a market capitalization of $36.39 billion, a PE ratio of 15.84 and a beta of 1.94. The company’s 50-day moving average price is $19.79 and its 200 day moving average price is $18.81. HP has a 1-year low of $13.77 and a 1-year high of $22.00.
HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The business had revenue of $13.06 billion for the quarter, compared to analyst estimates of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. On average, equities analysts anticipate that HP will post $1.65 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were issued a $0.1327 dividend. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.44%. HP’s dividend payout ratio is currently 38.41%.
In other HP news, insider Enrique Lores sold 40,965 shares of the firm’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $21.50, for a total value of $880,747.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Margaret C. Whitman sold 295,936 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $19.00, for a total transaction of $5,622,784.00. Following the completion of the transaction, the director now directly owns 766,825 shares in the company, valued at approximately $14,569,675. The disclosure for this sale can be found here. Insiders sold 2,168,171 shares of company stock worth $42,637,791 in the last three months. 0.62% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HPQ. Bronfman E.L. Rothschild L.P. raised its holdings in shares of HP by 19.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock valued at $108,000 after buying an additional 1,013 shares during the last quarter. American Beacon Advisors Inc. bought a new stake in shares of HP during the first quarter valued at approximately $112,000. YorkBridge Wealth Partners LLC raised its holdings in shares of HP by 3.2% during the second quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock valued at $113,000 after buying an additional 200 shares during the last quarter. First Command Bank raised its holdings in shares of HP by 80.0% during the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after buying an additional 2,984 shares during the last quarter. Finally, Evercore Wealth Management LLC raised its holdings in shares of HP by 14.0% during the second quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock valued at $119,000 after buying an additional 836 shares during the last quarter. 79.17% of the stock is currently owned by institutional investors.
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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