HP (HPQ) PT Raised to $30.00 at Citigroup
HP (NYSE:HPQ) had its price target increased by Citigroup to $30.00 in a research report sent to investors on Friday, August 24th, The Fly reports. Citigroup currently has a buy rating on the computer maker’s stock.
HPQ has been the subject of a number of other research reports. Maxim Group upgraded shares of HP from a hold rating to a buy rating and upped their price objective for the stock from $27.00 to $28.00 in a research report on Wednesday, May 30th. They noted that the move was a valuation call. ValuEngine downgraded shares of HP from a strong-buy rating to a buy rating in a report on Wednesday, May 2nd. Zacks Investment Research cut shares of HP from a buy rating to a hold rating in a research note on Tuesday, July 31st. BMO Capital Markets lowered their price objective on shares of HP to $22.00 and set a market perform rating on the stock in a research note on Wednesday, May 30th. Finally, JPMorgan Chase & Co. set a $28.00 price target on shares of HP and gave the stock a buy rating in a research note on Wednesday, May 30th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $26.06.
HPQ traded up $0.03 during trading hours on Friday, hitting $25.04. 5,459,770 shares of the company’s stock were exchanged, compared to its average volume of 8,609,190. The company has a quick ratio of 0.61, a current ratio of 0.85 and a debt-to-equity ratio of -2.55. HP has a 12-month low of $19.31 and a 12-month high of $25.28. The company has a market cap of $38.93 billion, a P/E ratio of 15.18, a PEG ratio of 1.87 and a beta of 1.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Wednesday, September 12th will be issued a $0.1393 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, September 11th. HP’s dividend payout ratio is presently 33.94%.
In other news, insider Marie Myers sold 8,470 shares of the business’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $22.85, for a total transaction of $193,539.50. Following the completion of the transaction, the insider now owns 8,470 shares of the company’s stock, valued at $193,539.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HPQ. Bedel Financial Consulting Inc. bought a new stake in HP in the first quarter worth about $105,000. Rockefeller Capital Management L.P. acquired a new stake in HP during the 1st quarter worth about $106,000. CSat Investment Advisory L.P. acquired a new stake in HP during the 2nd quarter worth about $113,000. NuWave Investment Management LLC acquired a new stake in HP during the 2nd quarter worth about $116,000. Finally, Institutional & Family Asset Management LLC acquired a new stake in HP during the 1st quarter worth about $118,000. Institutional investors and hedge funds own 79.72% of the company’s stock.
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.
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