HP Inc. (HPQ) Given New $16.00 Price Target at Citigroup Inc.
HP Inc. (NYSE:HPQ) had its target price increased by Citigroup Inc. from $14.00 to $16.00 in a research note released on Monday. Citigroup Inc. currently has a neutral rating on the computer maker’s stock.
HPQ has been the subject of a number of other research reports. Jefferies Group reaffirmed a buy rating and issued a $16.75 price target on shares of HP in a report on Tuesday, September 13th. RBC Capital Markets reiterated a sector perform rating and set a $14.00 price objective (up from $12.00) on shares of HP in a research note on Monday, August 22nd. Royal Bank Of Canada boosted their price objective on HP from $12.00 to $14.00 and gave the stock a sector perform rating in a research note on Monday, August 22nd. Vetr lowered HP from a strong-buy rating to a buy rating and set a $16.12 price objective for the company. in a research note on Monday, September 19th. Finally, Morgan Stanley reiterated an overweight rating and set a $16.00 price objective (up from $15.00) on shares of HP in a research note on Friday, August 26th. Eighteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $15.15.
Shares of HP (NYSE:HPQ) opened at 15.47 on Monday. The company’s 50 day moving average price is $14.82 and its 200-day moving average price is $13.42. HP has a 52 week low of $8.91 and a 52 week high of $15.88. The company has a market capitalization of $26.47 billion, a price-to-earnings ratio of 8.24 and a beta of 1.55.
HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The company earned $11.89 billion during the quarter, compared to analysts’ expectations of $11.44 billion. HP had a return on equity of 106.26% and a net margin of 5.41%. HP’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. Analysts anticipate that HP will post $1.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th were given a dividend of $0.124 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, September 12th. HP’s dividend payout ratio (DPR) is currently 26.74%.
In related news, insider Marie Myers sold 10,269 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $14.55, for a total value of $149,413.95. Following the transaction, the insider now owns 22,390 shares in the company, valued at approximately $325,774.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tracy S. Keogh sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $15.00, for a total value of $1,500,000.00. Following the completion of the transaction, the insider now owns 213,582 shares in the company, valued at approximately $3,203,730. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
A number of institutional investors have recently modified their holdings of HPQ. IFP Advisors Inc boosted its position in shares of HP by 0.3% in the second quarter. IFP Advisors Inc now owns 22,658 shares of the computer maker’s stock valued at $284,000 after buying an additional 72 shares during the period. Thompson Investment Management Inc. raised its stake in shares of 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. Advisory Services Network LLC raised its stake in shares of HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock worth $145,000 after buying an additional 807 shares in the last quarter. Wealthsource Partners LLC raised its stake in shares of HP by 15.5% in the second quarter. Wealthsource Partners LLC now owns 16,390 shares of the computer maker’s stock worth $206,000 after buying an additional 2,196 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in shares of HP by 25.1% in the second quarter. Cullen Frost Bankers Inc. now owns 13,710 shares of the computer maker’s stock worth $172,000 after buying an additional 2,755 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.
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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