HP Inc. (NYSE:HPQ) Receives $36.23 Consensus Target Price from Brokerages

Shares of HP Inc. (NYSE:HPQ) have received an average recommendation of “Hold” from the twelve research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $36.68.

Several analysts recently commented on the company. JPMorgan Chase & Co. cut their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Wells Fargo & Company lifted their price objective on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Sanford C. Bernstein lifted their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, TD Cowen lifted their price objective on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th.

HP Trading Down 0.3 %

HP stock opened at $34.63 on Monday. The firm has a market cap of $32.48 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 2.96 and a beta of 1.05. The stock has a fifty day simple moving average of $33.10 and a two-hundred day simple moving average of $34.86. HP has a 12 month low of $27.42 and a 12 month high of $39.79.

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

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 3.34%. HP’s dividend payout ratio (DPR) is presently 40.93%.

Insider Activity

In other news, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock worth $9,670,068 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On HP

Large investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in shares of HP in the third quarter valued at about $25,000. Synergy Asset Management LLC purchased a new stake in shares of HP in the fourth quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of HP in the fourth quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of HP in the fourth quarter worth about $36,000. Finally, OFI Invest Asset Management purchased a new stake in shares of HP in the fourth quarter worth about $37,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

About HP

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.