HP Inc. (NYSE:HPQ) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Monday. The firm currently has a $17.76 target price on the computer maker’s stock. Vetr‘s price objective points to a potential upside of 17.77% from the stock’s current price.
HPQ has been the subject of several other research reports. Jefferies Group reiterated a “buy” rating and set a $16.75 price target on shares of HP in a research note on Tuesday, September 13th. RBC Capital Markets reiterated a “sector perform” rating and set a $14.00 price target (up previously from $12.00) on shares of HP in a research note on Monday, August 22nd. Royal Bank Of Canada increased their price target on HP from $12.00 to $14.00 and gave the stock a “sector perform” rating in a research note on Monday, August 22nd. Mizuho increased their price target on HP from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, October 14th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $16.00 price target (up previously from $15.00) on shares of HP in a research note on Friday, August 26th. Fifteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $15.84.
HP (NYSE:HPQ) traded down 0.66% on Monday, reaching $15.08. The company’s stock had a trading volume of 12,791,803 shares. HP has a 52-week low of $8.91 and a 52-week high of $16.19. The firm has a market cap of $25.80 billion, a PE ratio of 8.03 and a beta of 1.53. The stock’s 50 day moving average price is $14.93 and its 200 day moving average price is $14.09.
HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 22nd. The computer maker reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The firm earned $12.50 billion during the quarter, compared to the consensus estimate of $11.89 billion. HP had a negative return on equity of 61.38% and a net margin of 5.17%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. Equities research analysts expect that HP will post $1.60 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be given a $0.1327 dividend. This is a positive change from HP’s previous quarterly dividend of $0.12. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Monday, December 12th. HP’s dividend payout ratio (DPR) is currently 35.21%.
In other news, insider Tracy S. Keogh sold 100,000 shares of HP stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total value of $1,500,000.00. Following the sale, the insider now directly owns 213,582 shares in the company, valued at approximately $3,203,730. The sale was disclosed in a filing with the SEC, which is available through this link. 0.51% of the stock is owned by insiders.
Several large investors have recently modified their holdings of HPQ. American International Group Inc. raised its stake in shares of HP by 5.0% in the third quarter. American International Group Inc. now owns 32,897,063 shares of the computer maker’s stock worth $510,891,000 after buying an additional 1,561,329 shares in the last quarter. Bank of New York Mellon Corp boosted its position 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. Northern Trust Corp boosted its position in HP by 1.6% in the third quarter. Northern Trust Corp now owns 21,870,150 shares of the computer maker’s stock worth $339,644,000 after buying an additional 350,310 shares during the last quarter. BlackRock Fund Advisors boosted its position in HP by 4.6% in the third quarter. BlackRock Fund Advisors now owns 21,674,708 shares of the computer maker’s stock worth $336,608,000 after buying an additional 952,392 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position 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. Hedge funds and other institutional investors own 76.75% of the company’s stock.
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.