HPQ has been the subject of several other research reports. Jefferies Group restated a buy rating and set a $16.75 target price on shares of HP in a research report on Tuesday, September 13th. RBC Capital Markets reiterated a sector perform rating and issued a $14.00 price objective (up previously from $12.00) on shares of HP in a research report on Monday, August 22nd. Royal Bank Of Canada lifted their price objective on HP from $12.00 to $14.00 and gave the company a sector perform rating in a research report on Monday, August 22nd. Vetr downgraded HP from a strong-buy rating to a buy rating and set a $16.12 price objective for the company. in a research report on Monday, September 19th. Finally, Morgan Stanley reiterated an overweight rating and issued a $16.00 price objective (up previously from $15.00) on shares of HP in a research report on Friday, August 26th. Eighteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $15.15.
HP (NYSE:HPQ) opened at 15.35 on Monday. HP has a 12-month low of $8.91 and a 12-month high of $15.88. The firm has a 50-day moving average price of $14.87 and a 200-day moving average price of $13.45. The stock has a market cap of $26.26 billion, a PE ratio of 8.17 and a beta of 1.55.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 24th. The computer maker reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The business 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%. HP’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. Analysts forecast that HP will post $1.61 EPS for the current fiscal year.
The company 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 3.23%. 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 company’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total value of $1,500,000.00. Following the transaction, the insider now owns 213,582 shares of the company’s stock, valued at $3,203,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marie Myers sold 10,269 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were 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 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.
Institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC increased its position in 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 last quarter. Cullen Frost Bankers Inc. increased its position in 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 last quarter. Wealthsource Partners LLC purchased a new position in HP during the first quarter valued at approximately $175,000. Wealthfront Inc. increased its position in HP by 27.2% in the second quarter. Wealthfront Inc. now owns 17,036 shares of the computer maker’s stock valued at $214,000 after buying an additional 3,638 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in HP by 3.4% in the third quarter. Raymond James Trust N.A. now owns 15,483 shares of the computer maker’s stock valued at $240,000 after buying an additional 513 shares during the last quarter. 78.54% of the stock is currently owned by 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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