HP Inc. (NYSE:HPQ) Receives $23.50 Consensus Price Target from Analysts

Shares of HP Inc. (NYSE:HPQ) have been assigned an average recommendation of “Reduce” from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $24.1667.

Several brokerages have commented on HPQ. Morgan Stanley dropped their price objective on HP from $19.00 to $17.00 and set an “underweight” rating on the stock in a report on Monday. The Goldman Sachs Group upped their target price on HP from $19.00 to $21.00 and gave the stock a “sell” rating in a research note on Wednesday, August 12th. UBS Group increased their target price on HP from $20.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, May 28th. TD Cowen boosted their price target on shares of HP from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Thursday, May 28th. Finally, Weiss Ratings upgraded shares of HP from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 6th.

Insider Buying and Selling at HP

In related news, insider David P. Mcquarrie sold 21,048 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $29.98, for a total value of $631,019.04. Following the transaction, the insider directly owned 39,580 shares of the company’s stock, valued at approximately $1,186,608.40. This trade represents a 34.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 52,620 shares of company stock worth $1,478,622. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HP

Hedge funds have recently made changes to their positions in the company. Callan Family Office LLC purchased a new stake in shares of HP during the second quarter worth $3,029,000. Vanguard Group Inc. lifted its stake in shares of HP by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 132,094,388 shares of the computer maker’s stock worth $2,943,063,000 after buying an additional 2,435,634 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in HP by 8.6% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,981,864 shares of the computer maker’s stock worth $45,063,000 after acquiring an additional 157,464 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in HP during the fourth quarter worth about $31,899,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in HP by 5.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,977,716 shares of the computer maker’s stock valued at $43,747,000 after acquiring an additional 103,175 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Performance

Shares of HP stock opened at $29.56 on Friday. The firm has a 50-day simple moving average of $25.96 and a two-hundred day simple moving average of $22.55. HP has a fifty-two week low of $17.56 and a fifty-two week high of $32.19. The company has a market cap of $27.04 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 4.74 and a beta of 1.17.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 27th. The computer maker reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. The firm had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $13.99 billion. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $0.71 EPS. Equities research analysts forecast that HP will post 3.03 EPS for the current year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.1%. HP’s payout ratio is currently 44.28%.

HP Company Profile

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett?Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.