HP’s (HPQ) “Buy” Rating Reaffirmed at Deutsche Bank AG
HPQ has been the topic of a number of other reports. FBN Securities restated an outperform rating and issued a $23.00 price objective (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 $20.00 price objective on the stock in a report on Wednesday, July 12th. Mizuho upgraded shares of HP from a neutral rating to a buy rating and raised their price objective for the company from $20.00 to $21.00 in a report on Monday, July 10th. BidaskClub upgraded shares of HP from a buy rating to a strong-buy rating in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada raised their price objective on shares of HP from $20.00 to $21.00 and gave the company a sector perform rating in a report on Thursday, May 25th. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. HP presently has a consensus rating of Buy and an average target price of $20.53.
Shares of HP (NYSE:HPQ) traded down 0.52% on Thursday, hitting $19.31. The stock had a trading volume of 13,592,877 shares. The company has a 50-day moving average of $18.86 and a 200-day moving average of $18.09. HP has a 52-week low of $13.77 and a 52-week high of $19.78. The company has a market cap of $32.46 billion, a P/E ratio of 14.03 and a beta of 1.90.
HP (NYSE:HPQ) last released its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The company had revenue of $13.06 billion for the quarter, compared to analyst estimates of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 EPS. On average, equities analysts anticipate that HP will post $1.65 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be issued a $0.1327 dividend. This represents a $0.53 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s payout ratio is 38.41%.
In related news, Director Margaret C. Whitman sold 73,992 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $17.72, for a total transaction of $1,311,138.24. Following the sale, the director now owns 544,881 shares of the company’s stock, valued at $9,655,291.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marie Myers sold 12,119 shares of the business’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 sale, the insider now directly owns 5,621 shares in the company, valued at approximately $101,571.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,713,815 shares of company stock worth $31,984,460. Insiders own 0.62% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Boston Partners increased its stake in HP by 304.9% in the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock worth $456,535,000 after buying an additional 19,667,780 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in HP during the first quarter worth approximately $79,108,000. Renaissance Technologies LLC bought a new stake in HP during the first quarter worth approximately $62,824,000. Parametric Portfolio Associates LLC increased its stake in HP by 87.1% in the second quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock worth $126,086,000 after buying an additional 3,358,299 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in HP by 26.3% in the second quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock worth $253,233,000 after buying an additional 3,017,182 shares in 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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