HP Inc. (HPQ) Price Target Raised to $14.00 at Mizuho
HP Inc. (NYSE:HPQ) had its price objective raised by analysts at Mizuho from $12.00 to $14.00 in a research note issued to investors on Friday, StockTargetPrices.com reports. The firm currently has a “neutral” rating on the computer maker’s stock. Mizuho’s price target points to a potential downside of 7.59% from the company’s current price.
Several other equities research analysts have also recently weighed in on HPQ. Deutsche Bank AG restated a “buy” rating on shares of HP in a research report on Sunday, July 10th. Barclays PLC boosted their price objective on shares of HP from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, August 25th. RBC Capital Markets reiterated a “sector perform” rating and set a $14.00 price objective on shares of HP in a research report on Tuesday, September 13th. Jefferies Group reiterated a “buy” rating and set a $14.50 price objective on shares of HP in a research report on Thursday, June 23rd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $15.00 price objective on shares of HP in a research report on Thursday, June 23rd. Eighteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. HP presently has an average rating of “Hold” and a consensus target price of $15.23.
Shares of HP (NYSE:HPQ) opened at 15.15 on Friday. The stock has a market capitalization of $25.92 billion, a PE ratio of 8.07 and a beta of 1.55. The stock has a 50 day moving average of $14.90 and a 200 day moving average of $13.46. HP has a 52-week low of $8.91 and a 52-week high of $15.88.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. HP had a net margin of 5.41% and a return on equity of 106.26%. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.44 billion. During the same quarter in the previous year, the business posted $0.88 earnings per share. HP’s quarterly revenue was down 3.8% on a year-over-year basis. Analysts forecast that HP will post $1.61 earnings per share for the current year.
The firm 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. The ex-dividend date was Monday, September 12th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.27%. HP’s dividend payout ratio (DPR) is 26.74%.
In other news, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $14.00, for a total transaction of $1,400,000.00. Following the transaction, the insider now owns 213,582 shares in the company, valued at approximately $2,990,148. The sale 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 that occurred 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 transaction, the insider now owns 22,390 shares in the company, valued at approximately $325,774.50. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC raised its position 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 during the period. Cullen Frost Bankers Inc. raised its position 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 during the period. Wealthsource Partners LLC acquired a new position in shares of HP during the first quarter worth about $175,000. Wealthfront Inc. raised its position in shares of HP by 27.2% in the second quarter. Wealthfront Inc. now owns 17,036 shares of the computer maker’s stock worth $214,000 after buying an additional 3,638 shares during the period. Finally, Raymond James Trust N.A. raised its position in shares of HP by 3.4% in the third quarter. Raymond James Trust N.A. now owns 15,483 shares of the computer maker’s stock worth $240,000 after buying an additional 513 shares during the period. 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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