HP Inc. (NYSE:HPQ) Given Average Rating of “Moderate Buy” by Brokerages

by · The Cerbat Gem

HP Inc. (NYSE:HPQ – Get Free Report) has earned an average recommendation of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $31.90.

A number of research firms have issued reports on HPQ. Citigroup upgraded shares of HP from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $31.00 to $33.00 in a research report on Monday, November 13th. Evercore ISI raised shares of HP from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $33.00 to $40.00 in a research note on Monday, December 11th. StockNews.com raised shares of HP from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of HP from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, August 30th. Finally, Edward Jones raised shares of HP from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th.

Check Out Our Latest Research Report on HPQ

Insider Buying and Selling

In other HP news, major shareholder Berkshire Hathaway Inc sold 1,596,922 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $25.70, for a total transaction of $41,040,895.40. Following the completion of the transaction, the insider now owns 100,922,113 shares in the company, valued at $2,593,698,304.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Berkshire Hathaway Inc sold 1,596,922 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $25.70, for a total value of $41,040,895.40. Following the transaction, the insider now owns 100,922,113 shares of the company’s stock, valued at approximately $2,593,698,304.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alex Cho sold 45,758 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.24, for a total transaction of $1,337,963.92. Following the transaction, the insider now directly owns 22,003 shares in the company, valued at approximately $643,367.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,896,234 shares of company stock worth $126,318,653. 0.32% of the stock is owned by insiders.

Institutional Trading of HP

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of HP by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock valued at $3,019,999,000 after buying an additional 12,883,347 shares in the last quarter. Wellington Management Group LLP boosted its stake in HP by 13.6% in the 3rd quarter. Wellington Management Group LLP now owns 126,205 shares of the computer maker’s stock worth $3,243,000 after purchasing an additional 15,143 shares in the last quarter. American Century Companies Inc. boosted its stake in HP by 1.0% in the 3rd quarter. American Century Companies Inc. now owns 4,627,893 shares of the computer maker’s stock worth $118,937,000 after purchasing an additional 46,884 shares in the last quarter. Banque Pictet & Cie SA boosted its stake in HP by 6.5% in the 3rd quarter. Banque Pictet & Cie SA now owns 196,124 shares of the computer maker’s stock worth $5,040,000 after purchasing an additional 11,961 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its position in HP by 2.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 19,634 shares of the computer maker’s stock worth $505,000 after buying an additional 442 shares during the last quarter. 76.04% of the stock is currently owned by institutional investors.

HP Stock Up 0.8 %

Shares of NYSE:HPQ opened at $30.41 on Wednesday. The stock has a market cap of $30.13 billion, a PE ratio of 9.24, a PEG ratio of 1.78 and a beta of 1.05. The company’s fifty day moving average is $28.32 and its 200 day moving average is $29.45. HP has a 52 week low of $25.22 and a 52 week high of $33.90.

HP (NYSE:HPQ – Get Free Report) last released its quarterly earnings data on Tuesday, November 21st. The computer maker reported $0.90 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.90. HP had a net margin of 6.13% and a negative return on equity of 138.83%. The firm had revenue of $13.82 billion for the quarter, compared to analysts’ expectations of $13.79 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. Sell-side analysts anticipate that HP will post 3.44 EPS for the current year.

HP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be given a dividend of $0.2756 per share. This is a positive change from HP’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.63%. HP’s dividend payout ratio is currently 33.43%.

HP Company Profile

(Get Free Report

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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