HP Inc. (HPQ) Lifted to “Strong-Buy” at ValuEngine
HP Inc. (NYSE:HPQ) was upgraded by equities researchers at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Thursday.
Other equities research analysts have also issued research reports about the company. Credit Suisse Group reiterated a “buy” rating and issued a $19.00 price target on shares of HP in a research report on Tuesday, May 23rd. Citigroup Inc. set a $20.00 price target on HP and gave the company a “buy” rating in a research report on Thursday, May 25th. BMO Capital Markets upped their price target on HP from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, May 25th. Vetr downgraded HP from a “buy” rating to a “hold” rating and set a $19.72 price objective on the stock. in a research note on Monday, June 5th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.00 price objective (up from $18.00) on shares of HP in a research note on Friday, May 19th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. HP presently has an average rating of “Buy” and an average price target of $19.69.
HP (HPQ) traded up 0.93% during trading on Thursday, reaching $17.35. The company had a trading volume of 8,241,012 shares. The firm has a market capitalization of $29.21 billion, a PE ratio of 12.27 and a beta of 1.89. HP has a 12-month low of $12.04 and a 12-month high of $19.58. The firm’s 50 day moving average price is $18.37 and its 200 day moving average price is $17.07.
HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. HP’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. Analysts anticipate that HP will post $1.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th were issued a $0.1327 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Monday, June 12th. HP’s dividend payout ratio is presently 37.32%.
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In other news, CFO Catherine A. Lesjak sold 67,997 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $19.00, for a total value of $1,291,943.00. Following the completion of the transaction, the chief financial officer now directly owns 67,997 shares of the company’s stock, valued at $1,291,943. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Catherine A. Lesjak sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $18.14, for a total value of $2,176,800.00. Following the completion of the transaction, the chief financial officer now directly owns 120,000 shares of the company’s stock, valued at $2,176,800. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 603,455 shares of company stock valued at $10,977,307. 0.62% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in HPQ. Dodge & Cox acquired a new position in HP during the fourth quarter valued at about $2,073,164,000. Vanguard Group Inc. raised its position in HP by 1.8% in the first quarter. Vanguard Group Inc. now owns 121,687,604 shares of the computer maker’s stock valued at $2,175,775,000 after buying an additional 2,122,269 shares in the last quarter. State Street Corp raised its position in HP by 0.7% in the first quarter. State Street Corp now owns 79,522,135 shares of the computer maker’s stock valued at $1,421,893,000 after buying an additional 515,648 shares in the last quarter. Primecap Management Co. CA raised its position in HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock valued at $1,141,660,000 after buying an additional 2,163,147 shares in the last quarter. Finally, American International Group Inc. raised its position in HP by 1.6% in the first quarter. American International Group Inc. now owns 29,056,041 shares of the computer maker’s stock valued at $519,522,000 after buying an additional 457,514 shares in the last quarter. 80.37% of the stock is 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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