Citigroup Inc upgraded shares of HP Inc (NYSE:HPQ) from a neutral rating to a buy rating in a research report report published on Wednesday. Citigroup Inc currently has $20.00 price target on the computer maker’s stock, up from their prior price target of $17.54.
Other analysts have also recently issued research reports about the stock. BMO Capital Markets boosted their price target on shares of HP to $17.00 in a research note on Thursday, February 23rd. Brean Capital reiterated a buy rating and issued a $20.00 price target on shares of HP in a research note on Monday, January 23rd. FBN Securities upgraded shares of HP from a sector perform rating to a buy rating and boosted their price target for the stock from $15.00 to $19.00 in a research note on Thursday, February 23rd. Argus reiterated a buy rating and issued a $22.00 price target (up previously from $19.00) on shares of HP in a research note on Monday, February 27th. Finally, Barclays PLC boosted their price target on shares of HP from $15.00 to $17.00 and gave the stock an equal weight rating in a research note on Thursday, February 23rd. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $17.51.
HP (NYSE:HPQ) traded up 0.50% during mid-day trading on Wednesday, hitting $18.11. The company had a trading volume of 4,621,062 shares. The stock has a market capitalization of $30.67 billion, a PE ratio of 12.35 and a beta of 1.52. HP has a 1-year low of $11.31 and a 1-year high of $18.37. The stock has a 50 day moving average price of $17.43 and a 200-day moving average price of $15.76. HP also was the target of unusually large options trading activity on Monday. Investors bought 460 put options on the stock. This represents an increase of approximately 441% compared to the typical daily volume of 85 put options.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, February 22nd. The computer maker reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. The business had revenue of $12.68 billion for the quarter, compared to analysts’ expectations of $11.82 billion. HP had a net margin of 5.17% and a negative return on equity of 63.67%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. On average, analysts forecast that HP will post $1.61 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which was paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 8th were paid a $0.1327 dividend. The ex-dividend date of this dividend was Monday, March 6th. This represents a $0.53 dividend on an annualized basis and a yield of 2.95%. HP’s dividend payout ratio is currently 37.32%.
In other HP news, CFO Catherine A. Lesjak sold 719,775 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $17.60, for a total value of $12,668,040.00. Following the transaction, the chief financial officer now directly owns 599,775 shares in the company, valued at approximately $10,556,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tracy S. Keogh sold 113,582 shares of the company’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $17.43, for a total transaction of $1,979,734.26. Following the completion of the transaction, the insider now owns 96,926 shares in the company, valued at $1,689,420.18. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. ELM Advisors LLC increased its position 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 worth $256,000 after buying an additional 65 shares in the last quarter. Farmers Trust Co. increased its position in shares of HP by 97.4% in the first quarter. Farmers Trust Co. now owns 218,655 shares of the computer maker’s stock worth $3,910,000 after buying an additional 107,865 shares in the last quarter. First American Bank increased its position in shares of HP by 13.2% in the first quarter. First American Bank now owns 153,939 shares of the computer maker’s stock worth $2,752,000 after buying an additional 17,893 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of HP by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 29,540 shares of the computer maker’s stock worth $520,000 after buying an additional 116 shares in the last quarter. Finally, Nexus Investment Management Inc. increased its position in shares of HP by 7.1% in the first quarter. Nexus Investment Management Inc. now owns 447,400 shares of the computer maker’s stock worth $8,000,000 after buying an additional 29,800 shares in the last quarter. Institutional investors and hedge funds own 78.94% 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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