Brokerages Set HP Inc. (NYSE:HPQ) PT at $36.45

HP Inc. (NYSE:HPQ) has been assigned a consensus rating of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $36.45.

Several analysts have issued reports on HPQ shares. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Citigroup reduced their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Loop Capital lowered their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Finally, Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Friday, September 27th.

Insider Buying and Selling

In other news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alex Cho sold 40,287 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the sale, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,250,724.80. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock valued at $9,670,068 over the last 90 days. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of HP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares during the period. Geode Capital Management LLC boosted its holdings in shares of HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after buying an additional 2,477,977 shares during the period. Primecap Management Co. CA increased its position in shares of HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after acquiring an additional 1,319,731 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after acquiring an additional 1,455,138 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of HP by 11.3% in the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after acquiring an additional 1,089,848 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Trading Down 0.5 %

HP stock opened at $32.47 on Friday. The stock has a 50 day moving average of $35.58 and a 200-day moving average of $35.55. The stock has a market cap of $31.29 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. HP has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. As a group, equities analysts predict that HP will post 3.56 earnings per share for the current fiscal year.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.57%. This is a positive change from HP’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, December 11th. HP’s dividend payout ratio (DPR) is 41.28%.

HP Company Profile

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.