Published On: Wed, Sep 7th, 2016

Hewlett-Packard Co. (HPQ) Rating Reiterated by Jefferies Group

Hewlett-Packard Co. (NYSE:HPQ)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group in a research note issued to investors on Wednesday. They currently have a $16.75 price target on the computer maker’s stock. Jefferies Group’s price target indicates a potential upside of 14.49% from the company’s previous close.
In related news, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $14.50, for a total value of $1,450,000.00. Following the completion of the transaction, the insider now directly owns 213,582 shares in the company, valued at approximately $3,096,939. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Marie Myers sold 10,269 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $14.55, for a total transaction of $149,413.95. Following the completion of the transaction, the insider now owns 22,390 shares of the company’s stock, valued at $325,774.50. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of the company. Grassi Investment Management raised its position in shares of Hewlett-Packard by 16.3% in the first quarter. Grassi Investment Management now owns 286,100 shares of the computer maker’s stock valued at $3,525,000 after buying an additional 40,000 shares during the last quarter. Zebra Capital Management LLC raised its position in shares of Hewlett-Packard by 206.5% in the first quarter. Zebra Capital Management LLC now owns 85,994 shares of the computer maker’s stock valued at $1,059,000 after buying an additional 57,940 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Hewlett-Packard by 5.6% in the first quarter. Geode Capital Management LLC now owns 15,103,402 shares of the computer maker’s stock valued at $185,720,000 after buying an additional 799,445 shares during the last quarter. Wealthsource Partners LLC acquired a new position in shares of Hewlett-Packard during the first quarter valued at about $175,000. Finally, Exxonmobil Investment Management Inc. TX raised its position in shares of Hewlett-Packard by 5.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 442,791 shares of the computer maker’s stock valued at $5,557,000 after buying an additional 22,392 shares during the last quarter.

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Hewlett-Packard (NYSE:HPQ) opened at 14.6326 on Wednesday. The firm has a market capitalization of $25.03 billion and a price-to-earnings ratio of 7.7916. The company has a 50-day moving average of $14.29 and a 200-day moving average of $12.78. Hewlett-Packard has a 52 week low of $8.91 and a 52 week high of $14.82.
Hewlett-Packard (NYSE:HPQ) last issued its earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The company earned $11.89 billion during the quarter, compared to analyst estimates of $11.44 billion. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 EPS. On average, equities analysts forecast that Hewlett-Packard will post $1.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be issued a $0.124 dividend. The ex-dividend date of this dividend is Monday, September 12th. This represents a $0.50 annualized dividend and a yield of 3.39%.
HPQ has been the subject of several other research reports. RBC Capital Markets reaffirmed a “sector perform” rating and set a $14.00 price target (up previously from $12.00) on shares of Hewlett-Packard in a research note on Monday, August 22nd. Royal Bank Of Canada raised their price target on shares of Hewlett-Packard from $12.00 to $14.00 and gave the company a “sector perform” rating in a research note on Monday, August 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $16.00 price target (up previously from $15.00) on shares of Hewlett-Packard in a research note on Friday, August 26th. Wells Fargo & Co. reaffirmed a “market perform” rating and set a $13.50 price target (up previously from $13.00) on shares of Hewlett-Packard in a research note on Tuesday, June 7th. Finally, Barclays PLC reaffirmed a “hold” rating on shares of Hewlett-Packard in a research note on Wednesday, June 22nd. Eighteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $15.56.
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.

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