HP Inc. (HPQ) PT Raised to $16.00
HP Inc. (NYSE:HPQ) had its price objective boosted by stock analysts at Citigroup Inc. from $14.00 to $16.00 in a report issued on Monday. The firm currently has a “neutral” rating on the computer maker’s stock. Citigroup Inc.’s price target suggests a potential upside of 2.70% from the company’s previous close.
Several other equities analysts have also recently issued reports on the company. Deutsche Bank AG reissued a “buy” rating on shares of HP in a research report on Sunday, July 10th. Barclays PLC raised their target price on HP from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 25th. RBC Capital Markets reissued a “sector perform” rating and set a $14.00 target price on shares of HP in a research report on Tuesday, September 13th. Jefferies Group reissued a “buy” rating and set a $14.50 target price on shares of HP in a research report on Thursday, June 23rd. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $15.00 target price on shares of HP in a research report on Thursday, June 23rd. Eighteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.15.
Shares of HP (NYSE:HPQ) traded up 0.71% during mid-day trading on Monday, hitting $15.69. 4,893,085 shares of the stock were exchanged. The stock’s 50 day moving average is $14.79 and its 200-day moving average is $13.38. The stock has a market cap of $26.84 billion, a PE ratio of 8.35 and a beta of 1.55. HP has a 12 month low of $8.91 and a 12 month high of $15.88.
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HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The firm earned $11.89 billion during the quarter, compared to the consensus estimate of $11.44 billion. HP had a return on equity of 106.26% and a net margin of 5.41%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. On average, analysts anticipate that HP will post $1.61 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were given a $0.124 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Monday, September 12th. HP’s payout ratio is 26.74%.
In other HP news, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $14.00, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Marie Myers sold 10,269 shares of the stock in a transaction that occurred 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 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 owned by insiders.
Hedge funds have recently made changes to their positions in the company. Zebra Capital Management LLC boosted its stake in HP by 206.5% in the first quarter. Zebra Capital Management LLC now owns 85,994 shares of the computer maker’s stock valued at $1,059,000 after buying an additional 57,940 shares in the last quarter. Geode Capital Management LLC boosted its stake in HP by 5.6% in the first quarter. Geode Capital Management LLC now owns 15,103,402 shares of the computer maker’s stock valued at $185,720,000 after buying an additional 799,445 shares in the last quarter. Wealthsource Partners LLC acquired a new stake in HP during the first quarter valued at approximately $175,000. Exxonmobil Investment Management Inc. TX boosted its stake in HP by 5.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 442,791 shares of the computer maker’s stock valued at $5,557,000 after buying an additional 22,392 shares in the last quarter. Finally, Quotient Investors LLC acquired a new stake in HP during the second quarter valued at approximately $630,000. Institutional investors and hedge funds own 78.54% of the company’s stock.
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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