HP (NYSE:HPQ) Price Target Raised to $40.00

HP (NYSE:HPQ) had its price target increased by Sanford C. Bernstein from $32.00 to $40.00 in a research report released on Tuesday, The Fly reports.

HPQ has been the subject of a number of other reports. JPMorgan Chase & Co. downgraded HP to a hold rating and set a $30.00 price objective for the company. in a research note on Wednesday, October 6th. Evercore ISI boosted their price target on HP from $35.00 to $40.00 and gave the stock an outperform rating in a report on Wednesday, November 24th. Deutsche Bank Aktiengesellschaft boosted their price target on HP from $32.00 to $36.00 and gave the stock a hold rating in a report on Wednesday, November 24th. Zacks Investment Research cut HP from a buy rating to a hold rating and set a $33.00 price target on the stock. in a report on Friday, November 5th. Finally, Bank of America boosted their price target on HP from $29.00 to $33.00 and gave the stock an underperform rating in a report on Wednesday, November 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, HP currently has an average rating of Hold and a consensus price target of $35.38.

Shares of NYSE:HPQ opened at $38.42 on Tuesday. The stock has a 50 day moving average of $35.88 and a 200 day moving average of $31.34. The company has a market cap of $41.60 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 3.66 and a beta of 1.00. HP has a 12-month low of $24.07 and a 12-month high of $39.65.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 23rd. The computer maker reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.06. The company had revenue of $16.68 billion during the quarter, compared to the consensus estimate of $15.42 billion. HP had a negative return on equity of 151.64% and a net margin of 10.24%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 EPS. On average, research analysts predict that HP will post 4.16 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 6th. Stockholders of record on Wednesday, March 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.60%. HP’s dividend payout ratio (DPR) is 18.38%.

In other news, insider Barbara Barton Weiszhaar sold 1,547 shares of the business’s stock in a transaction that occurred on Tuesday, November 30th. The stock was sold at an average price of $35.38, for a total transaction of $54,732.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alex Cho sold 38,411 shares of the business’s stock in a transaction that occurred on Thursday, November 18th. The shares were sold at an average price of $31.04, for a total value of $1,192,277.44. The disclosure for this sale can be found here. Insiders have sold a total of 357,989 shares of company stock worth $12,258,879 over the last ninety days. Insiders own 0.19% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. SouthState Corp bought a new position in HP in the 3rd quarter valued at $26,000. Delta Asset Management LLC TN grew its position in HP by 161.0% in the 3rd quarter. Delta Asset Management LLC TN now owns 1,112 shares of the computer maker’s stock valued at $30,000 after acquiring an additional 686 shares during the last quarter. Trustcore Financial Services LLC grew its position in HP by 41.7% in the 3rd quarter. Trustcore Financial Services LLC now owns 1,149 shares of the computer maker’s stock valued at $31,000 after acquiring an additional 338 shares during the last quarter. Benjamin Edwards Inc. bought a new position in HP in the 3rd quarter valued at $32,000. Finally, Hanson & Doremus Investment Management bought a new position in HP in the 3rd quarter valued at $34,000. 82.28% of the stock is currently owned by institutional investors.

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.

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