RBC Capital Markets restated their sector perform rating on shares of HP Inc. (NYSE:HPQ) in a research report report published on Monday morning. The firm currently has a $16.00 target price on the computer maker’s stock, up from their previous target price of $14.00.
Other analysts have also recently issued reports about the company. Deutsche Bank AG reiterated a buy rating on shares of HP in a research note on Sunday, July 10th. Sanford C. Bernstein reiterated an outperform rating and issued a $15.00 price objective on shares of HP in a research note on Thursday, June 23rd. Citigroup Inc. reiterated a neutral rating and issued a $13.00 price objective on shares of HP in a research note on Wednesday, June 22nd. Royal Bank Of Canada reiterated a sector perform rating and issued a $12.00 price objective on shares of HP in a research note on Tuesday, June 21st. Finally, BMO Capital Markets increased their price objective on HP from $12.00 to $13.00 and gave the company a market perform rating in a research note on Thursday, August 25th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. HP presently has an average rating of Hold and a consensus target price of $15.15.
Shares of HP (NYSE:HPQ) traded down 0.26% during mid-day trading on Monday, hitting $15.55. The stock had a trading volume of 2,333,226 shares. HP has a 52-week low of $8.91 and a 52-week high of $15.88. The firm has a market cap of $26.60 billion, a PE ratio of 8.28 and a beta of 1.55. The firm has a 50 day moving average price of $14.82 and a 200 day moving average price of $13.42.
HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.44 billion. HP had a return on equity of 106.26% and a net margin of 5.41%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. Equities analysts predict that HP will post $1.61 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were paid a dividend of $0.124 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, September 12th. HP’s dividend payout ratio (DPR) is 26.74%.
In other news, insider Tracy S. Keogh sold 100,000 shares of the business’s 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 sale, the insider now owns 213,582 shares of the company’s stock, valued at approximately $2,990,148. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marie Myers sold 10,269 shares of the business’s 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 sale, 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. Insiders own 0.51% of the company’s stock.
Large investors have recently made changes to their positions in the company. Advisory Services Network LLC raised its stake 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. Cullen Frost Bankers Inc. raised its stake 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. Wealthsource Partners LLC purchased a new stake in shares of HP during the first quarter valued at approximately $175,000. Wealthfront Inc. raised its stake in shares of 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 period. Finally, IFP Advisors Inc raised its stake 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. 78.54% of the stock is currently owned by institutional investors and hedge funds.
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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