Deutsche Bank AG Raises HP Inc. (HPQ) Price Target to $18.00
HP Inc. (NYSE:HPQ) had its target price hoisted by Deutsche Bank AG from $15.00 to $18.00 in a research note issued on Monday. The brokerage presently has a “buy” rating on the computer maker’s stock. Deutsche Bank AG’s price objective would indicate a potential upside of 15.53% from the stock’s current price.
HPQ has been the subject of several other reports. Mizuho reaffirmed a “neutral” rating and issued a $12.00 price target on shares of HP in a research note on Thursday, June 23rd. Vetr downgraded shares of HP from a “strong-buy” rating to a “buy” rating and set a $16.12 price target for the company. in a research note on Monday, September 19th. Royal Bank Of Canada lifted their price target on shares of HP from $14.00 to $16.00 and gave the company a “sector perform” rating in a research note on Monday. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $19.00 price target on shares of HP in a research note on Sunday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $16.00 price target (up from $15.00) on shares of HP in a research note on Friday, August 26th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. HP presently has a consensus rating of “Hold” and an average target price of $15.15.
Shares of HP (NYSE:HPQ) traded up 0.71% during trading on Monday, reaching $15.69. 4,893,085 shares of the company were exchanged. The firm has a market cap of $26.84 billion, a price-to-earnings ratio of 8.35 and a beta of 1.55. The stock’s 50-day moving average is $14.79 and its 200-day moving average is $13.38. HP has a 52-week low of $8.91 and a 52-week high of $15.88.
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HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. HP had a net margin of 5.41% and a return on equity of 106.26%. The business earned $11.89 billion during the quarter, compared to the consensus estimate of $11.44 billion. During the same quarter last year, the firm earned $0.88 earnings per share. HP’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts predict that HP will post $1.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were issued a $0.124 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Monday, September 12th. HP’s payout ratio is 26.74%.
In other news, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $14.00, for a total value of $1,400,000.00. Following the transaction, the insider now owns 213,582 shares of the company’s stock, valued at approximately $2,990,148. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Marie Myers sold 10,269 shares of the 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 completion of the transaction, the insider now directly owns 22,390 shares in the company, valued at approximately $325,774.50. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Zebra Capital Management LLC raised its position in shares of HP by 206.5% in the first quarter. Zebra Capital Management LLC now owns 85,994 shares of the computer maker’s stock worth $1,059,000 after buying an additional 57,940 shares during the last quarter. Geode Capital Management LLC raised its position in shares of HP by 5.6% in the first quarter. Geode Capital Management LLC now owns 15,103,402 shares of the computer maker’s stock worth $185,720,000 after buying an additional 799,445 shares during the last quarter. Wealthsource Partners LLC bought a new position in shares of HP during the first quarter worth approximately $175,000. Exxonmobil Investment Management Inc. TX raised its position in shares of HP by 5.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 442,791 shares of the computer maker’s stock worth $5,557,000 after buying an additional 22,392 shares during the last quarter. Finally, Quotient Investors LLC bought a new position in shares of HP during the second quarter worth approximately $630,000. 78.54% of the stock is currently owned by hedge funds and other institutional investors.
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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