HP Inc. (NYSE:HPQ) Rating Increased to Strong-Buy at BidaskClub
BidaskClub upgraded shares of HP Inc. (NYSE:HPQ) from a buy rating to a strong-buy rating in a research report released on Tuesday morning.
HPQ has been the topic of a number of other research reports. UBS AG reaffirmed a buy rating and set a $22.00 price target (up previously from $20.00) on shares of HP in a research report on Thursday, May 25th. Royal Bank Of Canada raised HP from a sector perform rating to an outperform rating and upped their price target for the company from $21.00 to $22.00 in a research report on Thursday, July 20th. Zacks Investment Research raised HP from a hold rating to a buy rating and set a $21.00 price target on the stock in a research report on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) upped their price target on HP from $16.50 to $18.00 and gave the company a neutral rating in a research report on Thursday, May 25th. Finally, Citigroup Inc. raised HP from a neutral rating to a buy rating in a research report on Tuesday, April 18th. Nine analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $19.89.
HP (NYSE:HPQ) traded down 0.21% during mid-day trading on Tuesday, hitting $19.17. 5,898,307 shares of the company were exchanged. HP has a 12-month low of $13.55 and a 12-month high of $19.58. The company has a market cap of $32.27 billion, a price-to-earnings ratio of 13.56 and a beta of 1.89. The stock’s 50 day moving average is $18.09 and its 200-day moving average is $17.52.
HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts predict that HP will post $1.64 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.1327 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.77%. HP’s dividend payout ratio (DPR) is presently 37.32%.
In related news, CFO Catherine A. Lesjak sold 52,387 shares of the stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $19.00, for a total transaction of $995,353.00. Following the completion of the sale, the chief financial officer now directly owns 52,387 shares in the company, valued at approximately $995,353. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Catherine A. Lesjak sold 67,997 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $19.00, for a total value of $1,291,943.00. Following the sale, the chief financial officer now owns 67,997 shares of the company’s stock, valued at $1,291,943. The disclosure for this sale can be found here. Insiders have sold a total of 1,879,199 shares of company stock valued at $35,100,356 over the last 90 days. 0.62% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. American Beacon Advisors Inc. bought a new stake in shares of HP during the first quarter valued at $112,000. YorkBridge Wealth Partners LLC boosted its stake in shares of HP by 12.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,257 shares of the computer maker’s stock valued at $118,000 after buying an additional 675 shares in the last quarter. CWM LLC boosted its stake in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares in the last quarter. First Command Bank boosted its stake in shares of HP by 80.0% in the second quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock valued at $118,000 after buying an additional 2,984 shares in the last quarter. Finally, TrimTabs Asset Management LLC boosted its stake in shares of HP by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 6,936 shares of the computer maker’s stock valued at $124,000 after buying an additional 3,264 shares in the last quarter. Institutional investors own 79.63% 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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