HP Inc. (NYSE:HPQ) Receives $36.45 Consensus Target Price from Analysts

Shares of HP Inc. (NYSE:HPQ) have received an average rating of “Hold” from the eleven research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $36.45.

A number of research analysts recently weighed in on the stock. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. TD Cowen raised their price objective on HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. HSBC downgraded HP from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Citigroup reduced their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, Loop Capital lowered their price target on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th.

HP Price Performance

NYSE:HPQ opened at $32.63 on Friday. The business’s 50-day simple moving average is $35.72 and its 200-day simple moving average is $35.60. HP has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The stock has a market capitalization of $31.45 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the business posted $0.90 earnings per share. On average, research analysts expect that HP will post 3.56 earnings per share for the current year.

HP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a dividend of $0.2894 per share. This is an increase from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Wednesday, December 11th. HP’s dividend payout ratio is currently 41.28%.

Insider Activity at HP

In related news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the sale, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alex Cho sold 40,287 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at $2,250,724.80. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock valued at $9,670,068 over the last ninety days. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of HP

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in HP by 4.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 206,008 shares of the computer maker’s stock worth $7,214,000 after acquiring an additional 9,500 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of HP in the second quarter worth $48,000. Rothschild Investment LLC acquired a new stake in HP in the second quarter valued at $51,000. Van ECK Associates Corp lifted its holdings in HP by 12.9% during the 2nd quarter. Van ECK Associates Corp now owns 35,411 shares of the computer maker’s stock worth $1,240,000 after buying an additional 4,042 shares during the period. Finally, Graypoint LLC grew its position in shares of HP by 16.4% in the 2nd quarter. Graypoint LLC now owns 12,349 shares of the computer maker’s stock valued at $432,000 after buying an additional 1,737 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

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.