Deutsche Bank AG Reaffirms “Buy” Rating for HP Inc. (HPQ)
Deutsche Bank AG restated their buy rating on shares of HP Inc. (NYSE:HPQ) in a research report sent to investors on Friday morning. The brokerage currently has a $23.00 target price on the computer maker’s stock, up from their previous target price of $22.00.
HPQ has been the subject of several other research reports. Zacks Investment Research raised HP from a hold rating to a buy rating and set a $20.00 price objective for the company in a report on Wednesday, July 12th. Mizuho raised HP from a neutral rating to a buy rating and boosted their price objective for the stock from $20.00 to $21.00 in a report on Monday, July 10th. BidaskClub raised HP from a buy rating to a strong-buy rating in a report on Tuesday, July 25th. Stifel Nicolaus reissued a hold rating and set a $14.00 price objective on shares of HP in a report on Wednesday, August 16th. Finally, Jefferies Group LLC boosted their price objective on HP from $18.00 to $18.75 and gave the stock a hold rating in a report on Tuesday, July 18th. Ten equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. HP currently has an average rating of Buy and an average price target of $20.79.
HP (NYSE:HPQ) opened at 20.58 on Friday. HP has a 12-month low of $13.77 and a 12-month high of $20.61. The stock has a 50 day moving average of $19.51 and a 200-day moving average of $18.67. The company has a market cap of $34.37 billion, a PE ratio of 14.96 and a beta of 1.94. HP also was the target of some unusual options trading on Friday. Traders acquired 6,839 put options on the company. This is an increase of approximately 403% compared to the average daily volume of 1,360 put options.
HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company had revenue of $13.06 billion during the quarter, compared to analyst estimates of $12.31 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. HP’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts anticipate that HP will post $1.65 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were issued a dividend of $0.1327 per share. The ex-dividend date was Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.58%. HP’s dividend payout ratio is presently 38.41%.
In related news, Director Margaret C. Whitman sold 147,976 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $17.92, for a total transaction of $2,651,729.92. Following the completion of the transaction, the director now owns 618,865 shares in the company, valued at $11,090,060.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Tracy S. Keogh sold 265,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $19.90, for a total value of $5,285,440.00. Following the transaction, the insider now owns 165,952 shares of the company’s stock, valued at approximately $3,302,444.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,530,169 shares of company stock valued at $48,902,046. 0.62% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of HP by 1.6% during the second quarter. Vanguard Group Inc. now owns 123,633,569 shares of the computer maker’s stock valued at $2,161,114,000 after acquiring an additional 1,945,965 shares in the last quarter. BlackRock Inc. raised its holdings in shares of HP by 2.5% during the second quarter. BlackRock Inc. now owns 108,599,783 shares of the computer maker’s stock valued at $1,898,325,000 after acquiring an additional 2,608,983 shares in the last quarter. State Street Corp raised its holdings in shares of HP by 0.7% during the first quarter. State Street Corp now owns 79,522,135 shares of the computer maker’s stock valued at $1,421,893,000 after acquiring an additional 515,648 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of HP by 3.5% during the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock valued at $1,141,660,000 after acquiring an additional 2,163,147 shares in the last quarter. Finally, American International Group Inc. raised its holdings in shares of HP by 1.6% during the first quarter. American International Group Inc. now owns 29,056,041 shares of the computer maker’s stock valued at $519,522,000 after acquiring an additional 457,514 shares in the last quarter. Institutional investors own 79.18% of the company’s stock.
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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