HP Inc. (NYSE:HPQ)’s share price gapped down prior to trading on Friday . The stock had previously closed at $21.42, but opened at $20.99. HP shares last traded at $20.14, with a volume of 10,942,627 shares changing hands.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded HP from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Evercore ISI assumed coverage on HP in a research note on Wednesday, June 5th. They issued an “outperform” rating and a $23.00 price objective on the stock. Wolfe Research cut HP from an “outperform” rating to a “peer perform” rating and lowered their price objective for the company from $25.00 to $21.00 in a research note on Tuesday, May 14th. JPMorgan Chase & Co. boosted their price objective on HP from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, June 25th. Finally, Credit Suisse Group assumed coverage on HP in a research note on Thursday, April 11th. They issued a “neutral” rating and a $21.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. HP has an average rating of “Hold” and a consensus target price of $24.43.
The company has a market capitalization of $30.69 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 3.24 and a beta of 1.38. The business’s fifty day moving average price is $20.97.
HP (NYSE:HPQ) last posted its earnings results on Thursday, May 23rd. The computer maker reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. The business had revenue of $14.04 billion during the quarter, compared to analyst estimates of $13.97 billion. HP had a negative return on equity of 232.81% and a net margin of 6.67%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. As a group, equities analysts predict that HP Inc. will post 2.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, September 10th. HP’s payout ratio is 31.68%.
In other news, CEO Dion J. Weisler sold 132,964 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $20.95, for a total transaction of $2,785,595.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Claire Bramley sold 15,819 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.00, for a total value of $316,380.00. The disclosure for this sale can be found here. Insiders have sold 213,635 shares of company stock valued at $4,423,266 in the last three months. 0.25% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of HPQ. Geode Capital Management LLC grew its position in shares of HP by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 20,246,617 shares of the computer maker’s stock worth $413,637,000 after buying an additional 385,515 shares during the period. Actinver Wealth Management Inc. acquired a new position in HP during the fourth quarter valued at approximately $211,000. Tibra Equities Europe Ltd acquired a new position in HP during the first quarter valued at approximately $1,964,000. Montecito Bank & Trust grew its holdings in HP by 2.6% during the first quarter. Montecito Bank & Trust now owns 23,902 shares of the computer maker’s stock valued at $464,000 after purchasing an additional 598 shares during the period. Finally, F&V Capital Management LLC grew its holdings in HP by 0.8% during the first quarter. F&V Capital Management LLC now owns 245,225 shares of the computer maker’s stock valued at $4,765,000 after purchasing an additional 1,875 shares during the period. 79.94% of the stock is owned by institutional investors.
About HP (NYSE:HPQ)
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.
