HP Inc. (HPQ) Earns Outperform Rating from Wells Fargo & Co.
HP Inc. (NYSE:HPQ)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wells Fargo & Co. in a research note issued to investors on Wednesday. They currently have a $14.50 target price on the computer maker’s stock. Wells Fargo & Co.’s price objective indicates a potential downside of 2.49% from the company’s current price.
Other analysts have also recently issued reports about the stock. Jefferies Group reaffirmed a “buy” rating and issued a $16.75 price target on shares of HP in a report on Tuesday, September 13th. Vetr cut shares of HP from a “strong-buy” rating to a “buy” rating and set a $17.76 price target on the stock. in a report on Tuesday, November 15th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $14.00 price target (up from $12.00) on shares of HP in a report on Monday, August 22nd. Royal Bank Of Canada upped their price target on shares of HP from $12.00 to $14.00 and gave the company a “sector perform” rating in a report on Monday, August 22nd. Finally, Mizuho upped their price target on shares of HP from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, October 14th. Fifteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.73.
Shares of HP (NYSE:HPQ) traded down 6.77% during mid-day trading on Wednesday, hitting $14.87. 23,440,339 shares of the stock traded hands. The stock has a market cap of $25.44 billion, a P/E ratio of 7.92 and a beta of 1.53. HP has a 12-month low of $8.91 and a 12-month high of $16.19. The firm’s 50 day moving average price is $14.98 and its 200-day moving average price is $14.00.
HP (NYSE:HPQ) last posted its earnings results on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. HP had a net margin of 5.41% and a return on equity of 106.26%. The business had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $11.89 billion. During the same period in the previous year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts predict that HP will post $1.60 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be given a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.57%. This is a positive change from HP’s previous quarterly dividend of $0.12. The ex-dividend date is Monday, December 12th. HP’s dividend payout ratio is 26.74%.
In other news, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction that occurred on 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 directly owns 213,582 shares of the company’s stock, valued at $3,203,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marie Myers sold 10,269 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was 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 directly owns 22,390 shares of the company’s stock, valued at $325,774.50. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of HPQ. Itau Unibanco Holding S.A. bought a new stake in HP during the third quarter worth about $106,000. FineMark National Bank & Trust increased its position in HP by 2.4% in the third quarter. FineMark National Bank & Trust now owns 7,027 shares of the computer maker’s stock worth $109,000 after buying an additional 168 shares in the last quarter. Virtus Investment Advisers Inc. purchased a new position in HP during the third quarter worth approximately $120,000. Acrospire Investment Management LLC increased its position in HP by 9.6% in the third quarter. Acrospire Investment Management LLC now owns 8,000 shares of the computer maker’s stock worth $124,000 after buying an additional 700 shares in the last quarter. Finally, Cedar Wealth Management LLC increased its position in HP by 2.7% in the third quarter. Cedar Wealth Management LLC now owns 8,431 shares of the computer maker’s stock worth $131,000 after buying an additional 220 shares in the last quarter. 79.49% of the stock is owned by institutional investors and hedge funds.
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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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