Jefferies Group LLC Reaffirms Hold Rating for HP Inc. (HPQ)

Jefferies Group LLC reiterated their hold rating on shares of HP Inc. (NYSE:HPQ) in a research report sent to investors on Sunday morning. They currently have a $20.00 target price on the computer maker’s stock.

Other equities research analysts also recently issued research reports about the company. Susquehanna Bancshares Inc reissued a hold rating and issued a $20.00 target price on shares of HP in a report on Friday, August 25th. Royal Bank Of Canada raised HP from a sector perform rating to an outperform rating and raised their target price for the company from $21.00 to $22.00 in a report on Thursday, July 20th. BidaskClub downgraded HP from a buy rating to a hold rating in a report on Saturday, June 17th. Maxim Group reissued a hold rating and issued a $22.00 target price (up previously from $21.00) on shares of HP in a report on Thursday, August 24th. Finally, Stifel Nicolaus reissued a hold rating and issued a $14.00 target price on shares of HP in a report on Thursday, August 24th. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $20.92.

HP (NYSE:HPQ) opened at 20.57 on Friday. The company has a 50 day moving average of $19.63 and a 200 day moving average of $18.74. The firm has a market capitalization of $34.36 billion, a PE ratio of 14.95 and a beta of 1.94. HP has a 1-year low of $13.77 and a 1-year high of $20.73.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The firm had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. During the same period last year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts forecast that HP will post $1.65 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were paid a dividend of $0.1327 per share. This represents a $0.53 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Tuesday, September 12th. HP’s dividend payout ratio (DPR) is presently 38.41%.

In other news, insider Enrique Lores sold 40,965 shares of HP stock in a transaction on Friday, October 6th. The stock was sold at an average price of $20.50, for a total transaction of $839,782.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dion J. Weisler sold 731,502 shares of HP stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $19.97, for a total value of $14,608,094.94. Following the transaction, the insider now directly owns 435,018 shares of the company’s stock, valued at approximately $8,687,309.46. The disclosure for this sale can be found here. Insiders have sold a total of 2,127,206 shares of company stock valued at $41,757,043 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Several large investors have recently added to or reduced their stakes in HPQ. Bronfman E.L. Rothschild L.P. increased its position in HP by 19.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock worth $108,000 after purchasing an additional 1,013 shares in the last quarter. American Beacon Advisors Inc. purchased a new stake in HP during the 1st quarter worth about $112,000. YorkBridge Wealth Partners LLC increased its position in HP by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock worth $113,000 after purchasing an additional 200 shares in the last quarter. First Command Bank increased its position in HP by 80.0% during the 2nd quarter. First Command Bank now owns 6,714 shares of the computer maker’s stock worth $118,000 after purchasing an additional 2,984 shares in the last quarter. Finally, Evercore Wealth Management LLC increased its position in HP by 14.0% during the 2nd quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock worth $119,000 after purchasing an additional 836 shares in the last quarter. 79.18% of the stock is owned by institutional investors and hedge funds.

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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