HP (HPQ) Stock Rating Lowered by Barclays
Barclays downgraded shares of HP (NYSE:HPQ) from an overweight rating to an equal weight rating in a report published on Wednesday, MarketBeat.com reports. Barclays currently has $23.00 price target on the computer maker’s stock.
Other equities analysts also recently issued reports about the company. Guggenheim restated a neutral rating on shares of HP in a report on Monday, October 2nd. Deutsche Bank restated a buy rating and set a $23.00 price target (up from $22.00) on shares of HP in a report on Friday, October 6th. Jefferies Group reiterated a hold rating and issued a $20.00 price objective on shares of HP in a report on Sunday, October 8th. Zacks Investment Research upgraded HP from a hold rating to a buy rating and set a $23.00 price objective for the company in a report on Tuesday, October 10th. Finally, Loop Capital lifted their price objective on HP from $23.00 to $25.00 and gave the stock a buy rating in a report on Friday, October 13th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. HP has an average rating of Buy and an average target price of $21.71.
Shares of HP (NYSE:HPQ) traded up $0.41 during mid-day trading on Wednesday, reaching $23.70. The company had a trading volume of 11,535,622 shares, compared to its average volume of 6,197,452. HP has a 12 month low of $14.41 and a 12 month high of $23.79. The stock has a market capitalization of $38,317.36, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 2.45 and a beta of 1.82. The company has a debt-to-equity ratio of -1.98, a current ratio of 1.00 and a quick ratio of 0.74.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th were given a dividend of $0.1393 per share. This is a boost from HP’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Tuesday, December 12th. HP’s payout ratio is presently 37.58%.
In other news, insider Dion J. Weisler sold 525,719 shares of HP stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $21.22, for a total transaction of $11,155,757.18. Following the transaction, the insider now directly owns 865,216 shares of the company’s stock, valued at approximately $18,359,883.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dion J. Weisler sold 80,102 shares of HP stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $21.47, for a total value of $1,719,789.94. Following the transaction, the insider now directly owns 339,497 shares in the company, valued at $7,289,000.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,550,570 shares of company stock worth $33,702,662. Insiders own 0.62% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. D.A. Davidson & CO. lifted its holdings in HP by 1.1% in the 2nd quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock worth $132,000 after purchasing an additional 85 shares in the last quarter. National Asset Management Inc. lifted its holdings in HP by 1.4% in the 2nd quarter. National Asset Management Inc. now owns 11,788 shares of the computer maker’s stock worth $208,000 after purchasing an additional 165 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in HP by 3.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock worth $113,000 after purchasing an additional 200 shares in the last quarter. Westside Investment Management Inc. lifted its holdings in HP by 0.8% in the 2nd quarter. Westside Investment Management Inc. now owns 32,457 shares of the computer maker’s stock worth $580,000 after purchasing an additional 250 shares in the last quarter. Finally, Hancock Holding Co. lifted its holdings in HP by 0.5% in the 2nd quarter. Hancock Holding Co. now owns 49,755 shares of the computer maker’s stock worth $870,000 after purchasing an additional 255 shares in the last quarter. 80.92% of the stock is currently owned by hedge funds and other institutional investors.
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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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