HP Inc. (HPQ) Price Target Raised to $18.00 at Deutsche Bank AG
HP Inc. (NYSE:HPQ) had its price objective increased by analysts at Deutsche Bank AG from $15.00 to $18.00 in a research note issued on Monday. The brokerage currently has a “buy” rating on the computer maker’s stock. Deutsche Bank AG’s price target indicates a potential upside of 15.53% from the stock’s current price.
A number of other brokerages have also issued reports on HPQ. Credit Suisse Group AG reiterated a “buy” rating and issued a $19.00 target price on shares of HP in a research report on Friday, August 12th. Citigroup Inc. increased their target price on shares of HP from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, August 25th. Mizuho reiterated a “neutral” rating and issued a $12.00 target price on shares of HP in a research report on Thursday, August 25th. BMO Capital Markets increased their target price on shares of HP from $12.00 to $13.00 and gave the company a “market perform” rating in a research report on Thursday, August 25th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $14.00 target price on shares of HP in a research report on Tuesday, September 13th. Eighteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $15.15.
HP (NYSE:HPQ) traded up 0.738% during trading on Monday, hitting $15.695. 4,678,874 shares of the stock were exchanged. The firm has a market cap of $26.85 billion, a PE ratio of 8.357 and a beta of 1.55. HP has a 12-month low of $8.91 and a 12-month high of $15.88. The stock’s 50-day moving average price is $14.79 and its 200-day moving average price is $13.38.
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HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. The business earned $11.89 billion during the quarter, compared to analyst estimates of $11.44 billion. HP had a net margin of 5.41% and a return on equity of 106.26%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, equities analysts expect that HP will post $1.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were paid a $0.124 dividend. The ex-dividend date was Monday, September 12th. This represents a $0.50 annualized dividend and a dividend yield of 3.18%. HP’s payout ratio is 26.74%.
In related news, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $14.50, for a total value of $1,450,000.00. Following the completion of the transaction, the insider now directly owns 213,582 shares of the company’s stock, valued at $3,096,939. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Marie Myers sold 10,269 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $14.55, for a total value of $149,413.95. Following the completion of the transaction, the insider now directly owns 22,390 shares of the company’s stock, valued at $325,774.50. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of HPQ. IFP Advisors Inc boosted its position in shares of HP by 0.3% in the second quarter. IFP Advisors Inc now owns 22,658 shares of the computer maker’s stock valued at $284,000 after buying an additional 72 shares during the period. Thompson Investment Management Inc. boosted its position in shares of HP by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 40,620 shares of the computer maker’s stock valued at $510,000 after buying an additional 120 shares during the period. Advisory Services Network LLC boosted its position in shares of HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock valued at $145,000 after buying an additional 807 shares during the period. Wealthsource Partners LLC boosted its position in shares of HP by 15.5% in the second quarter. Wealthsource Partners LLC now owns 16,390 shares of the computer maker’s stock valued at $206,000 after buying an additional 2,196 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its position in shares of HP by 25.1% in the second quarter. Cullen Frost Bankers Inc. now owns 13,710 shares of the computer maker’s stock valued at $172,000 after buying an additional 2,755 shares during the period. 78.54% of the stock is owned by hedge funds and other institutional investors.
HP Company Profile
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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