Credit Suisse Group AG Reaffirms “Buy” Rating for HP Inc. (HPQ)
Credit Suisse Group AG reissued their buy rating on shares of HP Inc. (NYSE:HPQ) in a research note published on Sunday. Credit Suisse Group AG currently has a $19.00 price objective on the computer maker’s stock.
HPQ has been the subject of a number of other research reports. Mizuho reaffirmed a neutral rating and set a $12.00 target price on shares of HP in a report on Thursday, June 23rd. Vetr lowered HP from a strong-buy rating to a buy rating and set a $16.12 target price for the company. in a report on Monday, September 19th. Royal Bank Of Canada reaffirmed a sector perform rating and set a $12.00 target price on shares of HP in a report on Tuesday, June 28th. Morgan Stanley reaffirmed an overweight rating and set a $16.00 target price (up previously from $15.00) on shares of HP in a report on Friday, August 26th. Finally, RBC Capital Markets reaffirmed a sector perform rating and set a $14.00 target price on shares of HP in a report on Thursday, September 1st. Eighteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. HP has a consensus rating of Hold and an average target price of $14.76.
HP (NYSE:HPQ) opened at 15.58 on Friday. The company has a 50-day moving average of $14.79 and a 200-day moving average of $13.38. The company has a market cap of $26.66 billion, a price-to-earnings ratio of 8.30 and a beta of 1.55. HP has a one year low of $8.91 and a one year high of $15.74.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. The business earned $11.89 billion during the quarter, compared to analyst estimates of $11.44 billion. HP had a return on equity of 106.26% and a net margin of 5.41%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. Equities research analysts expect that HP will post $1.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th were given a dividend of $0.124 per share. The ex-dividend date was Monday, September 12th. This represents a $0.50 annualized dividend and a dividend yield of 3.18%. HP’s dividend payout ratio (DPR) is presently 26.74%.
In related news, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the sale, the insider now directly owns 213,582 shares of the company’s stock, valued at $3,096,939. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Marie Myers sold 10,269 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $14.55, for a total value of $149,413.95. Following the sale, the insider now directly owns 22,390 shares in the company, valued at $325,774.50. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.
Several large investors have recently added to or reduced their stakes in HPQ. Zebra Capital Management LLC boosted its stake in HP by 206.5% in the first quarter. Zebra Capital Management LLC now owns 85,994 shares of the computer maker’s stock valued at $1,059,000 after buying an additional 57,940 shares during the period. Geode Capital Management LLC increased its position in HP by 5.6% in the first quarter. Geode Capital Management LLC now owns 15,103,402 shares of the computer maker’s stock worth $185,720,000 after buying an additional 799,445 shares in the last quarter. Wealthsource Partners LLC purchased a new position in HP during the first quarter worth $175,000. Exxonmobil Investment Management Inc. TX increased its position in HP by 5.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 442,791 shares of the computer maker’s stock worth $5,557,000 after buying an additional 22,392 shares in the last quarter. Finally, Quotient Investors LLC purchased a new position in HP during the second quarter worth $630,000. 78.54% of the stock is currently owned by institutional investors.
HP Company Profile
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.
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