HP Inc. (NYSE:HPQ) was upgraded by research analysts at Mizuho from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, The Fly reports.
HPQ has been the subject of a number of other reports. FBN Securities reiterated an “outperform” rating and issued a $23.00 target price (up from $19.00) on shares of HP in a report on Sunday, May 28th. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Tuesday, April 25th. Morgan Stanley boosted their target price on shares of HP from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, April 18th. Royal Bank of Canada boosted their target price on shares of HP from $20.00 to $21.00 and gave the stock a “sector perform” rating in a report on Thursday, May 25th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $21.00 target price on shares of HP in a report on Thursday, March 23rd. Eleven investment analysts have rated the stock with a hold rating, eleven 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 a consensus price target of $19.69.
HP (NYSE:HPQ) opened at 17.35 on Monday. The company has a market capitalization of $29.21 billion, a price-to-earnings ratio of 12.27 and a beta of 1.89. HP has a 52 week low of $12.95 and a 52 week high of $19.58. The company has a 50 day moving average of $18.37 and a 200 day moving average of $17.07.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. On average, equities analysts forecast that HP will post $1.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th were paid a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Monday, June 12th. HP’s payout ratio is 37.32%.
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In other news, insider Ron Coughlin sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $18.14, for a total transaction of $181,400.00. Following the completion of the transaction, the insider now directly owns 61,745 shares of the company’s stock, valued at approximately $1,120,054.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Margaret C. Whitman sold 73,992 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $17.70, for a total value of $1,309,658.40. Following the transaction, the director now directly owns 544,881 shares of the company’s stock, valued at $9,644,393.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 603,455 shares of company stock valued at $10,977,307. Corporate insiders own 0.62% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HPQ. Burke & Herbert Bank & Trust Co. increased its position in shares of HP by 8.1% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 27,573 shares of the computer maker’s stock valued at $493,000 after buying an additional 2,060 shares during the last quarter. Creative Planning increased its position in shares of HP by 8.8% in the first quarter. Creative Planning now owns 93,512 shares of the computer maker’s stock valued at $1,672,000 after buying an additional 7,585 shares during the last quarter. Denali Advisors LLC increased its position in shares of HP by 85.1% in the first quarter. Denali Advisors LLC now owns 632,100 shares of the computer maker’s stock valued at $11,302,000 after buying an additional 290,600 shares during the last quarter. Fulton Bank N.A. acquired a new position in shares of HP during the first quarter valued at $222,000. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of HP by 1.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,485,144 shares of the computer maker’s stock valued at $26,555,000 after buying an additional 16,319 shares during the last quarter. 80.37% of the stock is owned by institutional investors and hedge funds.
HP Company Profile
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.
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