HP (HPQ) Given a $26.00 Price Target by JPMorgan Chase & Co. Analysts

JPMorgan Chase & Co. set a $26.00 price objective on HP (NYSE:HPQ) in a research note published on Friday morning. The firm currently has a neutral rating on the computer maker’s stock.

Several other brokerages also recently weighed in on HPQ. Morgan Stanley reduced their price target on HP from $29.00 to $28.00 and set an equal weight rating on the stock in a report on Thursday, October 4th. Maxim Group increased their price target on HP from $28.00 to $29.00 and gave the stock a buy rating in a report on Friday, August 24th. Loop Capital increased their price target on HP to $30.00 and gave the stock a positive rating in a report on Thursday, October 4th. Zacks Investment Research downgraded HP from a buy rating to a hold rating in a report on Tuesday, August 28th. Finally, Bank of America increased their price target on HP from $28.00 to $30.00 and gave the stock a buy rating in a report on Thursday, October 4th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $27.25.

HPQ stock traded up $0.14 during midday trading on Friday, reaching $23.00. 19,151,522 shares of the company traded hands, compared to its average volume of 8,664,050. HP has a 52-week low of $19.31 and a 52-week high of $27.08. The company has a market cap of $36.17 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.46 and a beta of 1.50.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, November 29th. The computer maker reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. HP had a negative return on equity of 155.65% and a net margin of 9.11%. The business had revenue of $15.37 billion for the quarter, compared to the consensus estimate of $15.13 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities research analysts expect that HP will post 2.18 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Thursday, December 13th will be issued a dividend of $0.1602 per share. This is an increase from HP’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 2.79%. The ex-dividend date is Wednesday, December 12th. HP’s dividend payout ratio (DPR) is presently 27.72%.

In other HP news, insider Dion J. Weisler sold 86,389 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $24.80, for a total transaction of $2,142,447.20. Following the transaction, the insider now directly owns 815,945 shares in the company, valued at approximately $20,235,436. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kim M. Rivera sold 46,072 shares of the firm’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $24.14, for a total value of $1,112,178.08. Following the transaction, the insider now owns 15,241 shares in the company, valued at $367,917.74. The disclosure for this sale can be found here. Insiders have sold a total of 826,055 shares of company stock worth $21,135,479 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CSat Investment Advisory L.P. bought a new stake in HP during the 2nd quarter valued at $113,000. NuWave Investment Management LLC bought a new stake in HP during the 2nd quarter valued at $116,000. Capital Advisors Ltd. LLC boosted its position in HP by 6,530.8% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 7,095 shares of the computer maker’s stock valued at $183,000 after acquiring an additional 6,988 shares in the last quarter. United Capital Management of KS Inc. bought a new stake in HP during the 3rd quarter valued at $201,000. Finally, BancorpSouth Bank bought a new stake in HP during the 3rd quarter valued at $207,000. Institutional investors own 79.61% of the company’s stock.

About HP

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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