HP Inc. (HPQ) Stock Rating Reaffirmed by Guggenheim
Other analysts also recently issued reports about the company. Zacks Investment Research raised HP from a hold rating to a buy rating and set a $20.00 target price for the company in a research note on Wednesday, July 12th. Mizuho raised HP from a neutral rating to a buy rating and raised their target price for the stock from $20.00 to $21.00 in a research note on Monday, July 10th. BidaskClub downgraded HP from a strong-buy rating to a buy rating in a research note on Tuesday, August 1st. Loop Capital initiated coverage on HP in a research note on Tuesday, August 22nd. They issued a buy rating and a $23.00 target price for the company. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $22.00 target price on shares of HP in a research note on Thursday, August 24th. Ten equities research 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 stock. The company presently has an average rating of Buy and an average price target of $20.57.
HP (NYSE:HPQ) opened at 20.35 on Monday. The company has a 50 day moving average of $19.46 and a 200-day moving average of $18.65. HP has a 12-month low of $13.77 and a 12-month high of $20.42. The stock has a market capitalization of $33.99 billion, a price-to-earnings ratio of 14.79 and a beta of 1.94.
HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The business had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. During the same period last year, the company earned $0.48 EPS. The company’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 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were paid a $0.1327 dividend. This represents a $0.53 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Tuesday, September 12th. HP’s payout ratio is presently 38.41%.
In other news, insider Dion J. Weisler sold 731,502 shares of HP stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $19.97, for a total value of $14,608,094.94. Following the completion of the transaction, the insider now owns 435,018 shares in the company, valued at approximately $8,687,309.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dion J. Weisler sold 95,521 shares of HP stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $19.97, for a total value of $1,907,554.37. Following the completion of the transaction, the chief executive officer now owns 435,018 shares of the company’s stock, valued at approximately $8,687,309.46. The disclosure for this sale can be found here. Insiders sold a total of 2,530,169 shares of company stock valued at $48,902,046 in the last quarter. Company insiders own 0.62% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HPQ. Bronfman E.L. Rothschild L.P. raised its position in shares of HP by 19.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock worth $108,000 after acquiring an additional 1,013 shares in the last quarter. American Beacon Advisors Inc. acquired a new stake in shares of HP during the 1st quarter worth about $112,000. YorkBridge Wealth Partners LLC raised its position in shares of HP by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock worth $113,000 after acquiring an additional 200 shares in the last quarter. First Command Bank raised its position in shares of HP by 80.0% during the 2nd quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock worth $118,000 after acquiring an additional 2,984 shares in the last quarter. Finally, Evercore Wealth Management LLC raised its position in shares of HP by 14.0% during the 2nd quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock worth $119,000 after acquiring an additional 836 shares in the last quarter. 79.18% of the stock is currently owned by institutional investors and hedge funds.
HP Company Profile
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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