HP Inc. (HPQ) Given Hold Rating at Stifel Nicolaus
Stifel Nicolaus reaffirmed their hold rating on shares of HP Inc. (NYSE:HPQ) in a research report report published on Thursday morning. They currently have a $14.00 target price on the computer maker’s stock.
Other equities analysts have also issued reports about the company. Bank of America Corporation raised their price target on HP from $20.00 to $22.00 and gave the stock a buy rating in a report on Thursday, May 25th. UBS AG reaffirmed a buy rating and issued a $22.00 price target (up from $20.00) on shares of HP in a report on Thursday, May 25th. Credit Suisse Group reaffirmed a buy rating and issued a $19.00 price target on shares of HP in a report on Tuesday, May 23rd. Citigroup Inc. set a $20.00 price target on HP and gave the stock a buy rating in a report on Thursday, May 25th. Finally, Mizuho raised HP from a neutral rating to a buy rating and raised their price target for the stock from $20.00 to $21.00 in a report on Monday, July 10th. Ten equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $20.53.
HP (NYSE:HPQ) traded down 0.180% during midday trading on Thursday, reaching $19.375. The company had a trading volume of 6,261,248 shares. HP has a 52-week low of $13.77 and a 52-week high of $19.78. The company’s 50-day moving average is $18.80 and its 200 day moving average is $18.06. The company has a market cap of $32.57 billion, a PE ratio of 14.081 and a beta of 1.90. HP also was the recipient of unusually large options trading on Wednesday. Traders bought 16,052 call options on the company. This is an increase of 739% compared to the typical volume of 1,914 call options.
HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 66.06% and a net margin of 4.66%. The firm had revenue of $13.06 billion during the quarter, compared to analyst estimates of $12.31 billion. During the same period last year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that HP will post $1.65 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be paid a dividend of $0.1327 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.73%. HP’s dividend payout ratio (DPR) is currently 38.41%.
In other news, insider Marie Myers sold 12,119 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $18.07, for a total transaction of $218,990.33. Following the transaction, the insider now directly owns 5,621 shares of the company’s stock, valued at $101,571.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret C. Whitman sold 73,992 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The shares were 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 in the company, valued at $9,644,393.70. The disclosure for this sale can be found here. Insiders have sold 1,713,815 shares of company stock worth $31,984,460 over the last ninety days. 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. Wedgewood Investors Inc. PA acquired a new stake in HP during the first quarter valued at about $266,000. Hennessy Advisors Inc. boosted its stake in HP by 100.1% in the first quarter. Hennessy Advisors Inc. now owns 442,300 shares of the computer maker’s stock valued at $7,908,000 after buying an additional 221,300 shares during the last quarter. Meyer Handelman Co. boosted its stake in HP by 0.7% in the first quarter. Meyer Handelman Co. now owns 441,814 shares of the computer maker’s stock valued at $7,899,000 after buying an additional 3,000 shares during the last quarter. IFP Advisors Inc boosted its stake in HP by 14.1% in the first quarter. IFP Advisors Inc now owns 31,833 shares of the computer maker’s stock valued at $569,000 after buying an additional 3,927 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in HP by 7.3% in the first quarter. Russell Investments Group Ltd. now owns 2,616,520 shares of the computer maker’s stock valued at $46,795,000 after buying an additional 178,649 shares during the last quarter. 79.90% of the stock is currently owned by hedge funds and other institutional investors.
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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