Susquehanna Bancshares Inc restated their hold rating on shares of HP Inc. (NYSE:HPQ) in a report released on Friday. They currently have a $20.00 price objective on the computer maker’s stock.
Other analysts have also recently issued reports about the stock. Bank of America Corporation increased their target price on shares of HP from $20.00 to $22.00 and gave the stock a buy rating in a research note on Thursday, May 25th. UBS AG restated a buy rating and set a $22.00 price objective (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. Royal Bank Of Canada upgraded shares of HP from a sector perform rating to an outperform rating and raised their price objective for the company from $21.00 to $22.00 in a research report on Thursday, July 20th. Stifel Nicolaus restated a hold rating and set a $14.00 price objective on shares of HP in a research report on Thursday. Finally, Jefferies Group LLC raised their price objective on shares of HP from $17.00 to $18.00 and gave the company a hold rating in a research report on Thursday, May 25th. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. HP presently has an average rating of Buy and an average target price of $20.53.
HP (HPQ) traded down 0.52% during trading on Friday, hitting $19.31. The company had a trading volume of 13,592,877 shares. The stock has a 50-day moving average of $18.86 and a 200-day moving average of $18.09. HP has a one year low of $13.77 and a one year high of $19.78. The stock has a market capitalization of $32.46 billion, a PE ratio of 14.03 and a beta of 1.90. HP also was the target of unusually large options trading activity on Wednesday. Traders purchased 16,052 call options on the stock. This represents an increase of 739% compared to the typical daily volume of 1,914 call options.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The business had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. During the same period in the prior year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that HP will post $1.65 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.1327 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.75%. HP’s dividend payout ratio (DPR) is currently 38.41%.
In other HP news, Director Margaret C. Whitman sold 147,968 shares of HP stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $18.00, for a total value of $2,663,424.00. Following the completion of the transaction, the director now directly owns 618,857 shares of the company’s stock, valued at $11,139,426. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret C. Whitman sold 73,992 shares of HP stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $17.70, for a total transaction of $1,309,658.40. Following the completion of the transaction, the director now directly owns 544,881 shares of the company’s stock, valued at $9,644,393.70. The disclosure for this sale can be found here. Insiders sold 1,713,815 shares of company stock valued at $31,984,460 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. boosted its position in shares of HP by 19.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock valued at $108,000 after buying an additional 1,013 shares during the period. American Beacon Advisors Inc. purchased a new position in shares of HP during the first quarter valued at about $112,000. YorkBridge Wealth Partners LLC boosted its position in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock valued at $118,000 after buying an additional 675 shares during the period. First Command Bank boosted its position in shares of HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after buying an additional 2,984 shares during the period. Finally, Evercore Wealth Management LLC boosted its position in shares of HP by 14.0% in the second quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock valued at $119,000 after buying an additional 836 shares during the period. 79.90% of the stock is owned by institutional investors and hedge funds.
HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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