HP (HPQ) Given New $27.00 Price Target at Citigroup

HP (NYSE:HPQ) had its price target hoisted by Citigroup from $23.00 to $27.00 in a research report released on Thursday. They currently have a buy rating on the computer maker’s stock.

HPQ has been the topic of several other reports. Maxim Group reiterated a hold rating and issued a $25.00 price objective on shares of HP in a report on Friday, October 27th. Royal Bank of Canada lifted their price objective on HP from $22.00 to $26.00 and gave the stock an outperform rating in a report on Wednesday, October 18th. Zacks Investment Research upgraded HP from a hold rating to a buy rating and set a $23.00 price objective on the stock in a report on Tuesday, October 10th. Morgan Stanley lifted their price objective on HP from $23.00 to $25.00 and gave the stock an overweight rating in a report on Friday, October 13th. Finally, Jefferies Group reiterated a hold rating and issued a $20.00 price objective on shares of HP in a report on Sunday, October 8th. Fourteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $21.71.

HP (NYSE:HPQ) traded up $0.41 during mid-day trading on Thursday, reaching $23.70. The company had a trading volume of 11,535,622 shares, compared to its average volume of 8,490,000. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of -1.98. HP has a 12 month low of $14.41 and a 12 month high of $23.79. The firm has a market cap of $38,990.00, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.47 and a beta of 1.81.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 21st. The computer maker reported $0.44 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. HP had a negative return on equity of 70.25% and a net margin of 4.85%. The company had revenue of $13.93 billion for the quarter, compared to analysts’ expectations of $13.36 billion. During the same period in the previous year, the firm posted $0.36 EPS. HP’s revenue was up 11.3% compared to the same quarter last year. equities research analysts anticipate that HP will post 1.81 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th were issued a dividend of $0.1393 per share. This is a boost from HP’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Tuesday, December 12th. HP’s payout ratio is currently 37.84%.

In other news, insider Kim M. Rivera sold 14,635 shares of HP stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $21.08, for a total transaction of $308,505.80. Following the sale, the insider now owns 79,553 shares of the company’s stock, valued at approximately $1,676,977.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Marie Myers sold 10,000 shares of HP stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $21.55, for a total transaction of $215,500.00. Following the sale, the insider now directly owns 21,966 shares in the company, valued at approximately $473,367.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,550,570 shares of company stock worth $33,702,662. Insiders own 0.62% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC raised its position in shares of HP by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock valued at $113,000 after buying an additional 200 shares during the period. Evercore Wealth Management LLC raised its position in shares of HP by 14.0% during the 2nd quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock valued at $119,000 after buying an additional 836 shares during the period. D.A. Davidson & CO. raised its position in shares of HP by 1.1% during the 2nd quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock valued at $132,000 after buying an additional 85 shares during the period. Advisory Services Network LLC raised its position in shares of HP by 9.8% during the 2nd quarter. Advisory Services Network LLC now owns 9,217 shares of the computer maker’s stock valued at $161,000 after buying an additional 824 shares during the period. Finally, San Francisco Sentry Investment Group CA raised its position in shares of HP by 188.3% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 8,057 shares of the computer maker’s stock valued at $161,000 after buying an additional 5,262 shares during the period. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

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About HP

HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.

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