Vetr upgraded shares of HP Inc. (NYSE:HPQ) from a buy rating to a strong-buy rating in a report published on Monday. The brokerage currently has $16.84 price target on the computer maker’s stock.
Other analysts have also recently issued reports about the company. Credit Suisse Group AG restated a buy rating and issued a $19.00 price target on shares of HP in a research note on Friday, August 12th. Deutsche Bank AG reiterated a buy rating on shares of HP in a research report on Sunday, July 10th. Jefferies Group reiterated a buy rating and set a $14.50 target price on shares of HP in a research report on Thursday, June 23rd. Brean Capital reiterated a buy rating on shares of HP in a research report on Wednesday, June 22nd. Finally, Argus lifted their target price on HP from $16.00 to $19.00 and gave the stock a buy rating in a research report on Monday, August 29th. Eighteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $15.26.
HP (NYSE:HPQ) opened at 14.03 on Monday. HP has a 12-month low of $8.91 and a 12-month high of $15.88. The company has a 50-day moving average price of $14.89 and a 200-day moving average price of $13.51. The firm has a market cap of $24.00 billion, a PE ratio of 7.47 and a beta of 1.55.
HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. HP had a return on equity of 106.26% and a net margin of 5.41%. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.44 billion. During the same period last year, the firm earned $0.88 earnings per share. HP’s quarterly revenue was down 3.8% on a year-over-year basis. On average, equities analysts predict that HP will post $1.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th were given a dividend of $0.124 per share. The ex-dividend date was Monday, September 12th. This represents a $0.50 dividend on an annualized basis and a yield of 3.54%. HP’s dividend payout ratio (DPR) is 26.74%.
In related news, insider Marie Myers sold 10,269 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $14.55, for a total transaction of $149,413.95. Following the completion of the sale, the insider now directly owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tracy S. Keogh sold 100,000 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the sale, the insider now directly owns 213,582 shares of the company’s stock, valued at $3,203,730. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Visionary Asset Management Inc. boosted its stake in shares of HP by 3.0% in the second quarter. Visionary Asset Management Inc. now owns 219,612 shares of the computer maker’s stock worth $2,760,000 after buying an additional 6,466 shares during the period. Exxonmobil Investment Management Inc. TX boosted its stake in shares of HP by 5.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 442,791 shares of the computer maker’s stock worth $5,557,000 after buying an additional 22,392 shares during the period. Geode Capital Management LLC boosted its stake in shares of HP by 5.6% in the first quarter. Geode Capital Management LLC now owns 15,103,402 shares of the computer maker’s stock worth $185,720,000 after buying an additional 799,445 shares during the period. Cullen Frost Bankers Inc. boosted 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 worth $172,000 after buying an additional 2,755 shares during the period. Finally, NewSquare Capital LLC boosted its stake in shares of HP by 18.7% in the second quarter. NewSquare Capital LLC now owns 61,845 shares of the computer maker’s stock worth $776,000 after buying an additional 9,743 shares during the period. 78.53% of the stock is owned by hedge funds and other institutional investors.
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.