HP (NYSE:HPQ – Get Rating) posted its quarterly earnings data on Tuesday. The computer maker reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01, RTT News reports. HP had a net margin of 9.72% and a negative return on equity of 220.16%. The business had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $14.68 billion. During the same quarter last year, the company posted $0.94 earnings per share. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year.
HP Stock Performance
HP stock traded up $0.22 during mid-day trading on Tuesday, hitting $29.38. 13,828,928 shares of the company traded hands, compared to its average volume of 11,234,577. HP has a one year low of $24.08 and a one year high of $41.47. The stock has a market cap of $29.55 billion, a price-to-earnings ratio of 5.14, a price-to-earnings-growth ratio of 3.03 and a beta of 0.99. The stock has a fifty day moving average price of $27.02 and a 200-day moving average price of $31.33.
HP Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be given a dividend of $0.2625 per share. This is a positive change from HP’s previous quarterly dividend of $0.25. This represents a $1.05 annualized dividend and a yield of 3.57%. HP’s payout ratio is presently 17.48%.
Insider Buying and Selling at HP
Institutional Investors Weigh In On HP
Several hedge funds have recently bought and sold shares of the stock. KCM Investment Advisors LLC lifted its position in HP by 4.4% during the first quarter. KCM Investment Advisors LLC now owns 9,551 shares of the computer maker’s stock valued at $347,000 after purchasing an additional 400 shares during the last quarter. Linscomb & Williams Inc. lifted its holdings in shares of HP by 8.9% in the 1st quarter. Linscomb & Williams Inc. now owns 7,688 shares of the computer maker’s stock worth $279,000 after acquiring an additional 631 shares during the last quarter. Certified Advisory Corp bought a new stake in shares of HP in the 1st quarter worth approximately $26,000. Industrial Alliance Investment Management Inc. lifted its holdings in shares of HP by 11.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 8,067 shares of the computer maker’s stock worth $293,000 after acquiring an additional 855 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of HP by 6.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 15,057 shares of the computer maker’s stock worth $376,000 after acquiring an additional 879 shares during the last quarter. 81.17% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
HPQ has been the subject of a number of research analyst reports. Sanford C. Bernstein decreased their price objective on shares of HP from $40.00 to $30.00 in a report on Tuesday, September 20th. Morgan Stanley reduced their target price on shares of HP from $28.00 to $24.00 and set an “underweight” rating for the company in a research note on Monday, October 17th. Cowen reduced their target price on shares of HP from $38.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, August 31st. Wells Fargo & Company reduced their target price on shares of HP from $30.00 to $25.00 and set an “underweight” rating for the company in a research note on Wednesday, August 31st. Finally, Evercore ISI reduced their target price on shares of HP to $33.00 in a research note on Tuesday, September 6th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.93.
HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
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