Shares of HP Inc. (NYSE:HPQ – Get Rating) have been given a consensus rating of “Hold” by the sixteen research firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $29.67.
HPQ has been the topic of a number of recent research reports. Cowen cut their target price on shares of HP from $38.00 to $30.00 and set a “market perform” rating on the stock in a report on Wednesday, August 31st. Evercore ISI lowered their price objective on HP to $33.00 in a research note on Tuesday, September 6th. Credit Suisse Group cut HP from an “outperform” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research note on Friday, November 18th. Sanford C. Bernstein lowered their price target on shares of HP from $40.00 to $30.00 in a research report on Tuesday, September 20th. Finally, Citigroup dropped their price objective on shares of HP from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, November 18th.
Insider Activity at HP
In other news, insider Tuan Tran sold 108,918 shares of the stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $29.99, for a total value of $3,266,450.82. Following the completion of the sale, the insider now directly owns 61,465 shares of the company’s stock, valued at $1,843,335.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Tuan Tran sold 108,918 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $29.99, for a total value of $3,266,450.82. Following the completion of the sale, the insider now owns 61,465 shares in the company, valued at $1,843,335.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Marie Myers sold 6,000 shares of the business’s stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $29.32, for a total value of $175,920.00. Following the transaction, the chief financial officer now owns 7,500 shares in the company, valued at $219,900. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,918 shares of company stock worth $4,300,191. 0.22% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of HPQ. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in HP by 89.9% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 873,243 shares of the computer maker’s stock valued at $31,698,000 after purchasing an additional 413,491 shares in the last quarter. Csenge Advisory Group acquired a new stake in HP in the 1st quarter valued at $251,000. Scotia Capital Inc. bought a new stake in HP in the first quarter valued at $629,000. Western Wealth Management LLC raised its stake in HP by 90.2% during the first quarter. Western Wealth Management LLC now owns 14,622 shares of the computer maker’s stock worth $531,000 after acquiring an additional 6,934 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of HP by 3.5% in the 1st quarter. Treasurer of the State of North Carolina now owns 449,349 shares of the computer maker’s stock valued at $16,311,000 after purchasing an additional 15,210 shares in the last quarter. 81.17% of the stock is owned by institutional investors.
HP Stock Down 0.9 %
NYSE:HPQ opened at $28.21 on Friday. The company has a market cap of $27.71 billion, a PE ratio of 9.37, a P/E/G ratio of 3.04 and a beta of 1.00. The business’s 50 day moving average is $27.86 and its two-hundred day moving average is $30.73. HP has a 52 week low of $24.08 and a 52 week high of $41.47.
HP (NYSE:HPQ – Get Rating) last announced its quarterly earnings data on Tuesday, November 22nd. The computer maker reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. The firm had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $14.68 billion. HP had a negative return on equity of 181.32% and a net margin of 5.09%. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period last year, the business posted $0.94 earnings per share. As a group, sell-side analysts expect that HP will post 3.35 EPS for the current fiscal year.
HP Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be given a dividend of $0.2625 per share. The ex-dividend date is Tuesday, December 13th. This represents a $1.05 dividend on an annualized basis and a yield of 3.72%. This is a boost from HP’s previous quarterly dividend of $0.25. HP’s dividend payout ratio is presently 33.22%.
HP Company Profile
HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.