Todays Report: The HP Inc. (HPQ) Price Target Raised to $16.00

The HP Inc. (HPQ) Price Target Raised to $16.00

HP Inc. (NYSE:HPQ) had its target price lifted by Royal Bank Of Canada from $14.00 to $16.00 in a research report released on Monday morning. The firm currently has a sector perform rating on the computer maker’s stock.

HPQ has been the topic of several other reports. RBC Capital Markets reiterated a sector perform rating and set a $16.00 target price (up from $14.00) on shares of HP in a research report on Monday. Credit Suisse Group AG reiterated a buy rating and set a $19.00 target price on shares of HP in a research report on Sunday. Vetr downgraded HP from a strong-buy rating to a buy rating and set a $16.12 target price on the stock. in a research report on Monday, September 19th. Morgan Stanley reiterated a buy rating on shares of HP in a research report on Tuesday, September 13th. Finally, Brean Capital reiterated a buy rating and set a $18.00 target price on shares of HP in a research report on Tuesday, September 13th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $15.15.

HP (NYSE:HPQ) opened at 15.35 on Monday. The company has a market capitalization of $26.26 billion, a price-to-earnings ratio of 8.17 and a beta of 1.55. The stock’s 50 day moving average price is $14.87 and its 200 day moving average price is $13.45. HP has a 12 month low of $8.91 and a 12 month high of $15.88.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.44 billion. HP had a return on equity of 106.26% and a net margin of 5.41%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. Equities research analysts anticipate that HP will post $1.61 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were issued a dividend of $0.124 per share. The ex-dividend date of this dividend was Monday, September 12th. This represents a $0.50 annualized dividend and a dividend yield of 3.23%. HP’s dividend payout ratio is presently 26.74%.

In other news, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $14.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the insider now owns 213,582 shares in the company, valued at approximately $2,990,148. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Marie Myers sold 10,269 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $14.55, for a total value of $149,413.95. Following the sale, the insider now owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

Several hedge funds have recently modified their holdings of HPQ. Advisory Services Network LLC raised its stake in shares of HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock valued at $145,000 after buying an additional 807 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of HP by 25.1% in the second quarter. Cullen Frost Bankers Inc. now owns 13,710 shares of the computer maker’s stock valued at $172,000 after buying an additional 2,755 shares in the last quarter. Wealthsource Partners LLC acquired a new stake in shares of HP during the first quarter valued at approximately $175,000. Wealthfront Inc. raised its stake in shares of HP by 27.2% in the second quarter. Wealthfront Inc. now owns 17,036 shares of the computer maker’s stock valued at $214,000 after buying an additional 3,638 shares in the last quarter. Finally, Raymond James Trust N.A. raised its stake in shares of HP by 3.4% in the third quarter. Raymond James Trust N.A. now owns 15,483 shares of the computer maker’s stock valued at $240,000 after buying an additional 513 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

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