HP Inc. (NYSE:HPQ) had its price objective boosted by BMO Capital Markets from $13.00 to $16.00 in a report published on Wednesday morning. The firm currently has a market perform rating on the computer maker’s stock.
A number of other research firms have also recently commented on HPQ. Citigroup Inc. lifted their target price on shares of HP from $13.00 to $14.00 and gave the stock a neutral rating in a research note on Thursday, August 25th. Credit Suisse Group AG reissued a buy rating and set a $19.00 price target on shares of HP in a research report on Friday, August 12th. Mizuho reissued a neutral rating and set a $12.00 price target on shares of HP in a research report on Thursday, August 25th. RBC Capital Markets reissued a sector perform rating and set a $14.00 price target on shares of HP in a research report on Tuesday, September 13th. Finally, Vetr raised shares of HP from a buy rating to a strong-buy rating and set a $16.84 price target for the company in a research report on Monday, October 17th. Fifteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $15.84.
HP (NYSE:HPQ) opened at 15.18 on Wednesday. HP has a 52-week low of $8.91 and a 52-week high of $16.19. The firm has a 50 day moving average of $14.95 and a 200-day moving average of $14.03. The company has a market capitalization of $25.97 billion, a price-to-earnings ratio of 8.08 and a beta of 1.53.
HP (NYSE:HPQ) last released its earnings results on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The company earned $12.50 billion during the quarter, compared to analysts’ expectations of $11.89 billion. HP had a net margin of 5.17% and a negative return on equity of 61.38%. HP’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.93 EPS. Equities analysts expect that HP will post $1.60 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be paid a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.50%. This is a positive change from HP’s previous quarterly dividend of $0.12. The ex-dividend date is Monday, December 12th. HP’s dividend payout ratio is presently 35.21%.
In related news, insider Tracy S. Keogh sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were 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 in the company, valued at $3,203,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.51% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in HP by 119.5% in the third quarter. Principal Financial Group Inc. now owns 5,152,764 shares of the computer maker’s stock worth $80,022,000 after buying an additional 2,805,123 shares during the last quarter. Wells Fargo & Company MN raised its stake in HP by 28.8% in the third quarter. Wells Fargo & Company MN now owns 11,681,887 shares of the computer maker’s stock worth $181,420,000 after buying an additional 2,614,757 shares during the last quarter. Bank of New York Mellon Corp raised its stake in HP by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 28,494,223 shares of the computer maker’s stock worth $442,517,000 after buying an additional 2,403,888 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in HP during the second quarter worth $26,430,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in HP during the third quarter worth $27,441,000. Hedge funds and other institutional investors own 76.75% of the company’s stock.