HP Inc. (HPQ) Price Target Raised to $18.00 at Deutsche Bank AG
Other equities research analysts have also issued reports about the company. Credit Suisse Group AG reissued a buy rating and set a $19.00 price target on shares of HP in a research note on Friday, August 12th. Jefferies Group reissued a buy rating and set a $14.50 price target on shares of HP in a research note on Thursday, June 23rd. Brean Capital restated a buy rating on shares of HP in a report on Wednesday, June 22nd. Argus raised their price objective on HP from $16.00 to $19.00 and gave the stock a buy rating in a report on Monday, August 29th. Finally, Morgan Stanley restated a buy rating on shares of HP in a report on Tuesday, September 13th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $15.15.
HP (NYSE:HPQ) opened at 15.465 on Monday. The stock’s 50 day moving average price is $14.82 and its 200-day moving average price is $13.42. HP has a one year low of $8.91 and a one year high of $15.88. The company has a market capitalization of $26.46 billion, a P/E ratio of 8.235 and a beta of 1.55.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. HP had a return on equity of 106.26% and a net margin of 5.41%. The firm earned $11.89 billion during the quarter, compared to analyst estimates of $11.44 billion. During the same period last year, the company earned $0.88 EPS. HP’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities analysts forecast that HP will post $1.61 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th were issued a dividend of $0.124 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, September 12th. HP’s dividend payout ratio is currently 26.74%.
In related news, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total value of $1,500,000.00. Following the completion of the sale, the insider now owns 213,582 shares in the company, valued at $3,203,730. The sale was disclosed in a legal filing with the SEC, which is available through 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 transaction of $149,413.95. Following the completion of the sale, 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. 0.51% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. purchased a new stake in shares of HP during the second quarter worth approximately $26,430,000. Thompson Investment Management Inc. increased its stake in HP by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 40,620 shares of the computer maker’s stock worth $510,000 after buying an additional 120 shares during the last quarter. Morgan Dempsey Capital Management LLC increased its stake in HP by 28.6% in the second quarter. Morgan Dempsey Capital Management LLC now owns 172,652 shares of the computer maker’s stock worth $2,167,000 after buying an additional 38,395 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in HP by 25.1% in the second quarter. Cullen Frost Bankers Inc. now owns 13,710 shares of the computer maker’s stock worth $172,000 after buying an additional 2,755 shares during the last quarter. Finally, NewSquare Capital LLC increased its stake in HP by 18.7% in the second quarter. NewSquare Capital LLC now owns 61,845 shares of the computer maker’s stock worth $776,000 after buying an additional 9,743 shares during 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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