HP Inc. (NYSE:HPQ) Receives Average Rating of “Moderate Buy” from Analysts
HP Inc. (NYSE:HPQ – Get Free Report) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $31.90.
HPQ has been the subject of a number of recent research reports. Citigroup upgraded shares of HP from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $31.00 to $33.00 in a research note on Monday, November 13th. Morgan Stanley raised shares of HP from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $31.00 to $35.00 in a report on Tuesday, December 12th. JPMorgan Chase & Co. lowered their price target on shares of HP from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, August 30th. Barclays lowered their target price on shares of HP from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, August 30th. Finally, Bank of America raised shares of HP from an “underperform” rating to a “buy” rating and raised their target price for the stock from $25.00 to $33.00 in a report on Tuesday, October 3rd.
Check Out Our Latest Stock Analysis on HPQ
Insider Transactions at HP
In related news, major shareholder Berkshire Hathaway Inc sold 1,333,730 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $26.80, for a total value of $35,743,964.00. Following the transaction, the insider now owns 110,662,174 shares in the company, valued at $2,965,746,263.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other HP news, insider Alex Cho sold 45,758 shares of HP stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $29.24, for a total value of $1,337,963.92. Following the completion of the sale, the insider now directly owns 22,003 shares of the company’s stock, valued at $643,367.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Berkshire Hathaway Inc sold 1,333,730 shares of HP stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $26.80, for a total transaction of $35,743,964.00. Following the completion of the sale, the insider now directly owns 110,662,174 shares of the company’s stock, valued at $2,965,746,263.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,997,861 shares of company stock worth $234,132,521. Company insiders own 0.32% of the company’s stock.
Institutional Investors Weigh In On HP
Several hedge funds and other institutional investors have recently bought and sold shares of HPQ. Vanguard Group Inc. increased its position in shares of HP by 12.3% during the third quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock worth $3,019,999,000 after acquiring an additional 12,883,347 shares in the last quarter. Wellington Management Group LLP increased its position in shares of HP by 13.6% during the third quarter. Wellington Management Group LLP now owns 126,205 shares of the computer maker’s stock worth $3,243,000 after acquiring an additional 15,143 shares in the last quarter. American Century Companies Inc. grew its position in HP by 1.0% in the 3rd quarter. American Century Companies Inc. now owns 4,627,893 shares of the computer maker’s stock worth $118,937,000 after purchasing an additional 46,884 shares in the last quarter. Banque Pictet & Cie SA grew its position in HP by 6.5% in the 3rd quarter. Banque Pictet & Cie SA now owns 196,124 shares of the computer maker’s stock worth $5,040,000 after purchasing an additional 11,961 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its position in HP by 2.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 19,634 shares of the computer maker’s stock worth $505,000 after purchasing an additional 442 shares in the last quarter. 76.04% of the stock is owned by institutional investors.
HP Trading Up 0.1 %
HPQ stock opened at $30.28 on Wednesday. The stock has a 50-day moving average price of $27.99 and a two-hundred day moving average price of $29.44. The stock has a market cap of $29.92 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 1.82 and a beta of 1.05. HP has a 1 year low of $25.22 and a 1 year high of $33.90.
HP (NYSE:HPQ – Get Free Report) last posted its quarterly earnings data on Tuesday, November 21st. The computer maker reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates of $0.90. HP had a net margin of 6.13% and a negative return on equity of 138.83%. The company had revenue of $13.82 billion during the quarter, compared to the consensus estimate of $13.79 billion. During the same period in the prior year, the business posted $0.85 EPS. The company’s quarterly revenue was down 6.5% on a year-over-year basis. On average, analysts forecast that HP will post 3.44 earnings per share for the current fiscal year.
HP Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th will be issued a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Tuesday, December 12th. This is a positive change from HP’s previous quarterly dividend of $0.26. HP’s payout ratio is 33.43%.
HP Company Profile (Get Free Report
HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
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Original: MarketBeat News Feed: HP Inc. (NYSE:HPQ) Receives Average Rating of “Moderate Buy” from Analysts