Brokerages Set HP Inc. (NYSE:HPQ) PT at $34.64

HP Inc. (NYSE:HPQ) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $34.64.

Several brokerages recently weighed in on HPQ. TD Cowen increased their price target on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. UBS Group lifted their target price on shares of HP from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Barclays increased their price target on shares of HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Citigroup lifted their price objective on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Morgan Stanley increased their target price on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th.

HP Stock Performance

Shares of HP stock opened at $36.10 on Friday. The company has a market capitalization of $35.33 billion, a P/E ratio of 12.20, a PEG ratio of 2.25 and a beta of 1.09. HP has a 1 year low of $25.22 and a 1 year high of $39.52. The company’s fifty day moving average is $34.02 and its two-hundred day moving average is $30.91.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.80 earnings per share. As a group, equities analysts expect that HP will post 3.45 earnings per share for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be given a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio is currently 37.16%.

Insider Transactions at HP

In other HP news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at approximately $2,335,450.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On HP

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in HP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after purchasing an additional 3,062,441 shares in the last quarter. LSV Asset Management raised its position in shares of HP by 3.3% in the first quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock valued at $383,028,000 after buying an additional 403,355 shares during the last quarter. Northern Trust Corp raised its position in shares of HP by 0.4% in the fourth quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock valued at $306,089,000 after buying an additional 40,884 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of HP by 4,180.9% during the fourth quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock valued at $286,352,000 after buying an additional 9,294,209 shares during the period. Finally, Norges Bank acquired a new stake in HP during the fourth quarter worth approximately $187,264,000. 77.53% of the stock is owned by institutional investors and hedge funds.

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.