HP Inc. (NYSE:HPQ) Receives $34.64 Average Target Price from Brokerages

HP Inc. (NYSE:HPQ) has been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $34.64.

Several equities analysts recently weighed in on HPQ shares. Bank of America raised their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. TD Cowen raised their target price on HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Wells Fargo & Company upped their price target on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Barclays increased their price target on HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Finally, Morgan Stanley upped their target price on shares of 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 NYSE:HPQ opened at $32.03 on Thursday. HP has a 52-week low of $25.22 and a 52-week high of $39.52. The business’s 50 day simple moving average is $35.92 and its two-hundred day simple moving average is $31.74. The firm has a market cap of $31.34 billion, a P/E ratio of 10.82, a PEG ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ) last issued its 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 company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. HP’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the business earned $0.80 EPS. On average, equities analysts forecast that HP will post 3.45 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a $0.2756 dividend. This represents a $1.10 annualized dividend and a yield of 3.44%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio is 37.16%.

Insider Buying and Selling at HP

In related news, insider Alex Cho sold 173,137 shares of HP stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the sale, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On HP

Several large investors have recently added to or reduced their stakes in HPQ. Vanguard Group Inc. increased its stake in shares of HP by 2.6% in the first 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 grew its stake in HP by 3.3% in the 1st 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 in the last quarter. Northern Trust Corp raised its holdings in HP by 0.4% during the 4th quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock valued at $306,089,000 after acquiring an additional 40,884 shares during the period. Bank of New York Mellon Corp lifted its position in shares of HP by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock worth $294,253,000 after acquiring an additional 287,861 shares in the last quarter. Finally, Norges Bank bought a new position in shares of HP in the fourth quarter worth $187,264,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

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.