HP Inc. (HPQ) Price Target Raised to $16.00
HP Inc. (NYSE:HPQ) had its price objective upped by stock analysts at Citigroup Inc. from $14.00 to $16.00 in a research note issued to investors on Monday. The firm currently has a “neutral” rating on the computer maker’s stock. Citigroup Inc.’s price objective points to a potential upside of 2.70% from the stock’s previous close.
A number of other research analysts also recently weighed in on the company. Deutsche Bank AG upped their target price on HP from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank Of Canada upped their target price on HP from $14.00 to $16.00 and gave the stock a “sector perform” rating in a report on Monday. RBC Capital Markets reiterated a “sector perform” rating and set a $16.00 target price (up previously from $14.00) on shares of HP in a report on Monday. Credit Suisse Group AG reiterated a “buy” rating and set a $19.00 target price on shares of HP in a report on Sunday. Finally, Vetr downgraded HP from a “strong-buy” rating to a “buy” rating and set a $16.12 target price on the stock. in a report on Monday, September 19th. Eighteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. HP has an average rating of “Hold” and a consensus target price of $15.15.
Shares of HP (NYSE:HPQ) traded up 0.738% during mid-day trading on Monday, reaching $15.695. The company had a trading volume of 4,678,874 shares. HP has a one year low of $8.91 and a one year high of $15.88. The company has a 50 day moving average price of $14.79 and a 200 day moving average price of $13.38. The company has a market capitalization of $26.85 billion, a price-to-earnings ratio of 8.357 and a beta of 1.55.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The business earned $11.89 billion during the quarter, compared to analyst estimates of $11.44 billion. HP had a return on equity of 106.26% and a net margin of 5.41%. HP’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 EPS. On average, analysts anticipate that HP will post $1.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were given a dividend of $0.124 per share. The ex-dividend date was Monday, September 12th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.18%. HP’s payout ratio is 26.74%.
In other news, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the completion of the transaction, the insider now owns 213,582 shares in the company, valued at $3,096,939. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Marie Myers sold 10,269 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.55, for a total value of $149,413.95. Following the transaction, the insider now owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HPQ. Advisory Services Network LLC raised its position 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 worth $145,000 after buying an additional 807 shares during the last quarter. Cullen Frost Bankers Inc. raised 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 in the last quarter. Wealthsource Partners LLC bought a new position in HP during the first quarter valued at approximately $175,000. Wealthfront Inc. raised 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 in the last quarter. Finally, IFP Advisors Inc raised its position in 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 in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.
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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