HP (NYSE:HPQ) Price Target Raised to $37.00 at Citigroup

HP (NYSE:HPQFree Report) had its price target lifted by Citigroup from $35.00 to $37.00 in a research note published on Thursday, Benzinga 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. Bank of America lifted their price objective on shares of HP from $35.00 to $37.00 and gave the stock a buy rating in a report on Thursday. HSBC raised shares of HP from a hold rating to a buy rating and lifted their price objective for the stock from $30.00 to $33.00 in a report on Wednesday, February 14th. Barclays lifted their price objective on shares of HP from $30.00 to $33.00 and gave the stock an equal weight rating in a report on Thursday. StockNews.com cut HP from a strong-buy rating to a buy rating in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. raised their target price on HP from $34.00 to $38.00 and gave the company an overweight rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, HP currently has a consensus rating of Moderate Buy and an average target price of $34.64.

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HP Trading Up 17.0 %

HPQ stock opened at $38.37 on Thursday. HP has a twelve month low of $25.22 and a twelve month high of $39.52. The company has a market capitalization of $37.63 billion, a P/E ratio of 11.22, a PEG ratio of 2.48 and a beta of 1.06. The firm has a 50 day simple moving average of $29.87 and a 200-day simple moving average of $29.54.

HP (NYSE:HPQGet Free Report) last released its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter last year, the company earned $0.80 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, research analysts predict that HP will post 3.42 EPS for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, July 13th. Investors of record on Wednesday, June 12th will be given a $0.2756 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $1.10 annualized dividend and a yield of 2.87%. HP’s dividend payout ratio (DPR) is currently 32.16%.

Insider Buying and Selling

In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares in the company, valued at $1,642,381.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares in the company, valued at $1,642,381.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert R. Bennett sold 67,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the completion of the sale, the director now owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The disclosure for this sale can be found here. Insiders sold a total of 116,723 shares of company stock valued at $3,479,287 over the last ninety days. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On HP

Hedge funds have recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton boosted its holdings in HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after buying an additional 397 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in HP during the fourth quarter worth about $28,000. Sawyer & Company Inc lifted its holdings in shares of HP by 900.0% during the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after purchasing an additional 900 shares in the last quarter. Janiczek Wealth Management LLC lifted its holdings in shares of HP by 116.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 566 shares in the last quarter. Finally, Rise Advisors LLC lifted its holdings in shares of HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

About HP

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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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