HP Inc. (NYSE:HPQ) Receives $36.23 Average Price Target from Analysts

Shares of HP Inc. (NYSE:HPQ) have been assigned an average recommendation of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $36.23.

A number of research analysts recently issued reports on HPQ shares. Citigroup decreased their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. TD Cowen boosted their price objective on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Barclays boosted their price objective on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. HSBC cut shares of HP from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th.

Insider Transactions at HP

In other news, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the sale, the insider now owns 64,676 shares of the company’s stock, valued at $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock valued at $9,670,068 over the last 90 days. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of HP

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in HP by 16.1% during the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after acquiring an additional 160,268 shares in the last quarter. Oak Thistle LLC raised its position in HP by 169.3% during the fourth quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock worth $1,132,000 after acquiring an additional 21,805 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of HP by 47.5% in the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after purchasing an additional 47,230 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of HP by 35.0% in the third quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after purchasing an additional 16,207 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of HP by 4.3% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker’s stock valued at $14,581,000 after purchasing an additional 18,557 shares during the last quarter. 77.53% of the stock is owned by institutional investors.

HP Price Performance

Shares of NYSE:HPQ opened at $34.72 on Monday. HP has a one year low of $27.42 and a one year high of $39.79. The company has a 50 day moving average of $33.10 and a 200-day moving average of $34.81. The stock has a market cap of $32.56 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 2.87 and a beta of 1.05.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. During the same quarter in the previous year, the company earned $0.90 EPS. HP’s revenue was up 1.7% on a year-over-year basis. Equities research analysts anticipate that HP will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is presently 41.28%.

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.