HP Inc. (HPQ) Earns Hold Rating from Stifel Nicolaus
Stifel Nicolaus reissued their hold rating on shares of HP Inc. (NYSE:HPQ) in a report published on Thursday morning. Stifel Nicolaus currently has a $14.00 target price on the computer maker’s stock.
HPQ has been the subject of several other research reports. UBS AG restated a buy rating and issued a $22.00 price target (up previously from $20.00) on shares of HP in a research note on Thursday, May 25th. Royal Bank Of Canada upgraded HP from a sector perform rating to an outperform rating and lifted their price target for the company from $21.00 to $22.00 in a research note on Thursday, July 20th. BidaskClub lowered HP from a buy rating to a hold rating in a research note on Saturday, June 17th. Maxim Group restated a hold rating and issued a $22.00 price target (up previously from $21.00) on shares of HP in a research note on Thursday. Finally, Jefferies Group LLC restated a hold rating and issued a $19.00 price target (up previously from $18.75) on shares of HP in a research note on Thursday. Ten equities 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 stock. The company currently has a consensus rating of Buy and a consensus target price of $20.53.
Shares of HP (HPQ) traded down 0.52% during mid-day trading on Thursday, hitting $19.31. The stock had a trading volume of 13,592,877 shares. HP has a 12 month low of $13.77 and a 12 month high of $19.78. The company has a market cap of $32.46 billion, a PE ratio of 14.03 and a beta of 1.90. The stock’s 50-day moving average is $18.86 and its 200 day moving average is $18.09.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The firm had revenue of $13.06 billion during the quarter, compared to analyst estimates of $12.31 billion. During the same quarter in the previous year, the business earned $0.48 EPS. HP’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that HP will post $1.65 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a $0.1327 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio is presently 38.41%.
In related news, insider Marie Myers sold 12,119 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $18.07, for a total value of $218,990.33. Following the transaction, the insider now directly owns 5,621 shares in the company, valued at $101,571.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret C. Whitman sold 221,960 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $19.36, for a total value of $4,297,145.60. Following the completion of the transaction, the director now owns 692,849 shares in the company, valued at $13,413,556.64. The disclosure for this sale can be found here. Insiders sold 1,713,815 shares of company stock worth $31,984,460 over the last quarter. 0.62% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HPQ. Vanguard Group Inc. boosted its position in HP by 1.6% in the second quarter. Vanguard Group Inc. now owns 123,633,569 shares of the computer maker’s stock worth $2,161,114,000 after buying an additional 1,945,965 shares during the period. BlackRock Inc. boosted its position in HP by 2.5% in the second quarter. BlackRock Inc. now owns 108,599,783 shares of the computer maker’s stock worth $1,898,325,000 after buying an additional 2,608,983 shares during the period. State Street Corp boosted its position in HP by 0.7% in the first quarter. State Street Corp now owns 79,522,135 shares of the computer maker’s stock worth $1,421,893,000 after buying an additional 515,648 shares during the period. Primecap Management Co. CA boosted its position in HP by 3.5% in the first quarter. Primecap Management Co. CA now owns 63,851,245 shares of the computer maker’s stock worth $1,141,660,000 after buying an additional 2,163,147 shares during the period. Finally, American International Group Inc. boosted its position in HP by 1.6% in the first quarter. American International Group Inc. now owns 29,056,041 shares of the computer maker’s stock worth $519,522,000 after buying an additional 457,514 shares during the period. Institutional investors own 79.90% of the company’s stock.
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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