HP Inc. (HPQ) Receives Overweight Rating from Morgan Stanley
HP Inc. (NYSE:HPQ)‘s stock had its “overweight” rating reissued by stock analysts at Morgan Stanley in a report released on Monday. They currently have a $23.00 target price on the computer maker’s stock. Morgan Stanley’s target price indicates a potential upside of 26.65% from the company’s previous close.
HPQ has been the topic of a number of other reports. BidaskClub lowered HP from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $21.00 target price on shares of HP in a report on Thursday, March 23rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $20.00 target price (up from $18.00) on shares of HP in a report on Friday, May 19th. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Tuesday, April 25th. Finally, Goldman Sachs Group, Inc. (The) lifted their target price on HP from $16.50 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, May 25th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. HP currently has an average rating of “Hold” and an average price target of $19.69.
Shares of HP (HPQ) traded up 2.02% during mid-day trading on Monday, reaching $18.16. 14,175,294 shares of the company were exchanged. The stock has a 50 day moving average price of $18.61 and a 200-day moving average price of $16.99. The stock has a market capitalization of $30.57 billion, a P/E ratio of 12.84 and a beta of 1.76. HP has a 12 month low of $11.48 and a 12 month high of $19.58.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.93 billion. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. Analysts predict that HP will post $1.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be given a dividend of $0.1327 per share. The ex-dividend date is Monday, June 12th. This represents a $0.53 dividend on an annualized basis and a yield of 2.92%. HP’s payout ratio is presently 37.32%.
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In other news, CFO Catherine A. Lesjak sold 67,997 shares of HP stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $19.00, for a total transaction of $1,291,943.00. Following the completion of the sale, the chief financial officer now directly owns 67,997 shares in the company, valued at approximately $1,291,943. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ron Coughlin sold 10,000 shares of HP stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $18.14, for a total value of $181,400.00. Following the sale, the insider now owns 61,745 shares of the company’s stock, valued at $1,120,054.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,163,143 shares of company stock valued at $20,762,933 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. CWM LLC raised its stake in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of HP by 0.4% in the first quarter. Parallel Advisors LLC now owns 11,616 shares of the computer maker’s stock valued at $218,000 after buying an additional 41 shares in the last quarter. ELM Advisors LLC raised its stake in shares of HP by 0.5% in the first quarter. ELM Advisors LLC now owns 14,318 shares of the computer maker’s stock valued at $256,000 after buying an additional 65 shares in the last quarter. Savant Capital LLC raised its stake in shares of HP by 0.3% in the first quarter. Savant Capital LLC now owns 24,276 shares of the computer maker’s stock valued at $434,000 after buying an additional 80 shares in the last quarter. Finally, Destination Wealth Management raised its stake in shares of HP by 0.5% in the first quarter. Destination Wealth Management now owns 15,603 shares of the computer maker’s stock valued at $279,000 after buying an additional 83 shares in the last quarter. Institutional investors and hedge funds own 80.37% of the company’s stock.
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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