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

HP Inc. (NYSE:HPQ - Get Free Report) has received an average rating of "Hold" from the fifteen analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $29.54.

A number of research firms have weighed in on HPQ. Barclays set a $28.00 target price on shares of HP and gave the stock an "equal weight" rating in a report on Thursday, May 29th. UBS Group cut their price target on shares of HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Wells Fargo & Company reduced their price objective on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research note on Thursday, May 29th. Bank of America lowered their target price on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Finally, Dbs Bank downgraded HP from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 11th.

Insiders Place Their Bets

In related news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Anneliese Olson sold 21,545 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now owns 169 shares in the company, valued at $4,814.81. This represents a 99.22% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of HP by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after acquiring an additional 579,525 shares in the last quarter. Amundi grew its position in HP by 15.9% in the 4th quarter. Amundi now owns 6,561,399 shares of the computer maker's stock valued at $217,319,000 after purchasing an additional 899,349 shares during the period. Gotham Asset Management LLC increased its stake in HP by 23.6% during the 4th quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock valued at $20,864,000 after purchasing an additional 122,289 shares in the last quarter. Raymond James Financial Inc. acquired a new position in HP during the fourth quarter worth $36,492,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in HP during the fourth quarter worth $9,481,000. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Stock Performance

Shares of HPQ opened at $24.16 on Friday. HP has a 52 week low of $21.21 and a 52 week high of $39.80. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 1.95 and a beta of 1.30. The stock has a fifty day moving average of $25.82 and a 200-day moving average of $29.38.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). HP had a negative return on equity of 244.99% and a net margin of 4.64%. The firm had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the company earned $0.82 EPS. HP's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that HP will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.79%. HP's dividend payout ratio is currently 44.79%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.