HP Inc. (NYSE:HPQ) Receives Average Recommendation of “Hold” from Brokerages

HP Inc. (NYSE:HPQ) has earned a consensus rating of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $35.60.

Several research firms recently issued reports on HPQ. Citigroup boosted their price objective on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. TD Cowen increased their target price on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Morgan Stanley decreased their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday. Bank of America upped their price objective on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Barclays reduced their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday.

Insider Transactions at HP

In related news, insider Alex Cho sold 173,137 shares of the stock in a transaction 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 transaction, the insider now directly 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 this link. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. PVG Asset Management Corp purchased a new position in shares of HP during the second quarter worth approximately $212,000. Cetera Investment Advisers grew its position in HP by 14.5% during the 2nd quarter. Cetera Investment Advisers now owns 125,398 shares of the computer maker’s stock worth $4,391,000 after purchasing an additional 15,905 shares during the last quarter. Truist Financial Corp increased its stake in HP by 4.5% in the second quarter. Truist Financial Corp now owns 176,513 shares of the computer maker’s stock valued at $6,181,000 after purchasing an additional 7,678 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of HP by 19.0% in the second quarter. EP Wealth Advisors LLC now owns 27,844 shares of the computer maker’s stock valued at $975,000 after buying an additional 4,449 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of HP by 454.9% during the second quarter. Quarry LP now owns 3,346 shares of the computer maker’s stock worth $117,000 after buying an additional 2,743 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Price Performance

Shares of HP stock opened at $36.18 on Monday. The business has a 50 day simple moving average of $35.48 and a two-hundred day simple moving average of $32.38. The stock has a market capitalization of $35.40 billion, a P/E ratio of 12.22, a PEG ratio of 2.24 and a beta of 1.09. HP has a 12 month low of $25.22 and a 12 month high of $39.52.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 230.39% and a net margin of 5.60%. The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same period last year, the firm earned $0.86 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, research analysts anticipate that HP will post 3.45 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a $0.2756 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a yield of 3.05%. HP’s dividend payout ratio is currently 37.16%.

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.