HP (NYSE:HPQ) Price Target Raised to $36.00

HP (NYSE:HPQ) had its target price raised by Deutsche Bank Aktiengesellschaft from $32.00 to $36.00 in a research note published on Wednesday, The Fly reports. The brokerage currently has a hold rating on the computer maker’s stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of HP to a hold rating and set a $30.00 target price for the company. in a research note on Wednesday, October 6th. Morgan Stanley lowered shares of HP from an overweight rating to an equal weight rating and set a $31.00 target price for the company. in a research note on Friday, August 27th. Loop Capital raised their price objective on shares of HP from $40.00 to $50.00 and gave the company a buy rating in a research note on Monday, November 1st. Jefferies Financial Group assumed coverage on shares of HP in a research note on Monday, August 9th. They issued a hold rating and a $31.00 price objective for the company. Finally, Evercore ISI reissued a buy rating and issued a $35.00 price objective on shares of HP in a research note on Sunday, October 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $32.77.

Shares of HPQ stock opened at $35.44 on Wednesday. The firm has a market cap of $40.85 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 0.61 and a beta of 1.03. The company has a 50-day moving average of $29.59 and a two-hundred day moving average of $29.66. HP has a 1-year low of $21.80 and a 1-year high of $36.21.

HP (NYSE:HPQ) last announced its earnings results on Monday, November 22nd. The computer maker reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.06. The company had revenue of $16.68 billion during the quarter, compared to analyst estimates of $15.42 billion. HP had a net margin of 6.56% and a negative return on equity of 137.22%. HP’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. As a group, sell-side analysts anticipate that HP will post 3.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 5th. Investors of record on Wednesday, December 8th will be issued a $0.25 dividend. This is a boost from HP’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, December 7th. This represents a $1.00 annualized dividend and a yield of 2.82%. HP’s dividend payout ratio (DPR) is 24.22%.

In other HP news, insider Christoph Schell sold 41,362 shares of the firm’s stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $32.01, for a total transaction of $1,323,997.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Enrique Lores sold 34,000 shares of the firm’s stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $27.53, for a total transaction of $936,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 237,973 shares of company stock worth $7,430,226. 0.19% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of HP by 2.9% during the second quarter. BlackRock Inc. now owns 109,024,707 shares of the computer maker’s stock worth $3,291,454,000 after acquiring an additional 3,102,708 shares during the last quarter. Geode Capital Management LLC grew its position in shares of HP by 2.1% during the third quarter. Geode Capital Management LLC now owns 22,726,268 shares of the computer maker’s stock worth $620,505,000 after acquiring an additional 476,260 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of HP by 6.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 18,708,669 shares of the computer maker’s stock worth $511,869,000 after acquiring an additional 1,075,822 shares during the last quarter. Deutsche Bank AG grew its position in HP by 6.4% in the 3rd quarter. Deutsche Bank AG now owns 15,935,707 shares of the computer maker’s stock valued at $436,002,000 after buying an additional 960,865 shares during the last quarter. Finally, Invesco Ltd. grew its position in HP by 19.9% in the 2nd quarter. Invesco Ltd. now owns 11,195,961 shares of the computer maker’s stock valued at $338,006,000 after buying an additional 1,859,807 shares during the last quarter. Institutional investors and hedge funds own 80.06% of the company’s stock.

HP Company Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.

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