HP (HPQ) Coverage Initiated by Analysts at Goldman Sachs Group
Goldman Sachs Group assumed coverage on shares of HP (NYSE:HPQ) in a report released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $25.00 price objective on the computer maker’s stock.
Several other research firms have also commented on HPQ. Barclays lowered HP from an overweight rating to an equal weight rating and set a $23.00 target price on the stock. in a report on Wednesday, January 17th. Zacks Investment Research lowered HP from a hold rating to a sell rating in a report on Thursday, January 25th. Loop Capital increased their target price on HP from $23.00 to $25.00 and gave the company a buy rating in a report on Friday, October 13th. Deutsche Bank reissued a buy rating and issued a $25.00 target price on shares of HP in a report on Wednesday, November 22nd. Finally, ValuEngine raised HP from a buy rating to a strong-buy rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $22.83.
HP (HPQ) opened at $20.11 on Wednesday. The company has a market capitalization of $32,772.94, a price-to-earnings ratio of 13.50, a P/E/G ratio of 2.09 and a beta of 1.77. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of -1.98. HP has a twelve month low of $15.45 and a twelve month high of $24.10.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 14th will be paid a dividend of $0.1393 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.56 annualized dividend and a dividend yield of 2.77%. HP’s dividend payout ratio (DPR) is 37.58%.
In other news, insider Marie Myers sold 10,000 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $21.55, for a total transaction of $215,500.00. Following the completion of the sale, the insider now owns 21,966 shares in the company, valued at $473,367.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kim M. Rivera sold 41,761 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $21.28, for a total transaction of $888,674.08. Following the sale, the insider now owns 84,799 shares of the company’s stock, valued at approximately $1,804,522.72. The disclosure for this sale can be found here. Insiders have sold 944,749 shares of company stock valued at $20,827,115 in the last quarter. Insiders own 0.62% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Ark Investment Management LLC lifted its position in HP by 37.4% in the second quarter. Ark Investment Management LLC now owns 78,615 shares of the computer maker’s stock valued at $1,374,000 after purchasing an additional 21,399 shares during the period. OxFORD Asset Management LLP acquired a new stake in HP in the second quarter valued at about $296,000. Stifel Financial Corp lifted its position in HP by 15.2% in the second quarter. Stifel Financial Corp now owns 175,308 shares of the computer maker’s stock valued at $3,053,000 after purchasing an additional 23,110 shares during the period. Caxton Associates LP acquired a new stake in HP in the second quarter valued at about $439,000. Finally, Raymond James Financial Services Advisors Inc. lifted its position in HP by 28.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 157,604 shares of the computer maker’s stock valued at $2,755,000 after purchasing an additional 35,139 shares during the period. Institutional investors and hedge funds own 81.22% 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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