Today: HP’s (HPQ) “Outperform” Rating Reiterate at Wells Fargo & Co.

Today: HP’s (HPQ) “Outperform” Rating Reiterate at Wells Fargo & Co.

Wells Fargo & Co. reaffirmed their outperform rating on shares of HP Inc. (NYSE:HPQ) in a research note published on Wednesday morning. The brokerage currently has a $14.50 target price on the computer maker’s stock.

Other analysts have also recently issued research reports about the company. BMO Capital Markets lifted their price target on HP from $12.00 to $13.00 and gave the stock a market perform rating in a research report on Thursday, August 25th. FBN Securities reaffirmed a sector perform rating on shares of HP in a research report on Thursday, September 8th. Mizuho reaffirmed a neutral rating and set a $12.00 price target on shares of HP in a research report on Thursday, August 25th. Deutsche Bank AG lifted their price target on HP from $15.00 to $18.00 and gave the stock a buy rating in a research report on Monday, October 10th. Finally, Argus lifted their price objective on HP from $16.00 to $19.00 and gave the company a buy rating in a research note on Monday, August 29th. 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 company. HP 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 1-year low of $8.91 and a 1-year high of $16.19. The company has a market cap of $25.97 billion, a price-to-earnings ratio of 8.08 and a beta of 1.53. The stock has a 50 day moving average price of $14.95 and a 200-day moving average price of $14.03.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.36. HP had a negative return on equity of 61.38% and a net margin of 5.17%. The company earned $12.50 billion during the quarter, compared to analysts’ expectations of $11.89 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that HP will post $1.60 EPS for the current year.

The business 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 dividend of $0.1327 per share. The ex-dividend date of this dividend is Monday, December 12th. 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. HP’s dividend payout ratio is currently 35.21%.

In other news, 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 owns 213,582 shares of the company’s stock, valued at $3,203,730. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.51% of the company’s stock.

Several hedge funds have recently bought and sold shares of HPQ. IFP Advisors Inc raised its stake in HP by 0.3% in the second quarter. IFP Advisors Inc now owns 22,658 shares of the computer maker’s stock worth $284,000 after buying an additional 72 shares in the last quarter. Thompson Investment Management Inc. raised its stake in HP by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 40,620 shares of the computer maker’s stock worth $510,000 after buying an additional 120 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in HP by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 54,120 shares of the computer maker’s stock worth $840,000 after buying an additional 150 shares in the last quarter. FineMark National Bank & Trust raised its stake in HP by 2.4% in the third quarter. FineMark National Bank & Trust now owns 7,027 shares of the computer maker’s stock worth $109,000 after buying an additional 168 shares in the last quarter. Finally, Conning Inc. raised its stake in HP by 0.4% in the third quarter. Conning Inc. now owns 44,375 shares of the computer maker’s stock worth $689,000 after buying an additional 190 shares in the last quarter. 76.75% of the stock is currently owned by institutional investors and hedge funds.

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