HP (NYSE:HPQ) Rating Increased to Hold at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of HP (NYSE:HPQ) to a hold rating in a research report sent to investors on Thursday morning,Zacks reports.

Several other analysts also recently weighed in on HPQ. Evercore set a $32.00 price objective on shares of HP in a research report on Monday, August 24th. Weiss Ratings upgraded shares of HP from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 6th. UBS Group raised their price target on shares of HP from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. Barclays boosted their price objective on HP from $19.00 to $23.00 and gave the stock an “underweight” rating in a research report on Friday, August 28th. Finally, Wall Street Zen raised HP from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.77.

HP Trading Up 8.2%

Shares of NYSE HPQ opened at $35.42 on Thursday. HP has a 12-month low of $17.56 and a 12-month high of $36.22. The company has a market cap of $31.94 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.70 and a beta of 1.18. The stock’s 50 day simple moving average is $28.29 and its 200 day simple moving average is $23.69.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 26th. The computer maker reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The firm had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.44 billion. HP had a negative return on equity of 947.78% and a net margin of 4.14%.The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. As a group, equities analysts forecast that HP will post 3.23 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, September 9th. HP’s dividend payout ratio is currently 45.80%.

Insider Buying and Selling

In other HP news, insider David McQuarrie sold 21,048 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $29.98, for a total transaction of $631,019.04. Following the sale, the insider directly owned 39,580 shares in the company, valued at approximately $1,186,608.40. The trade was a 34.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 42,096 shares of company stock worth $1,218,890. 0.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in HP during the 2nd quarter valued at $2,357,757,000. California State Teachers Retirement System raised its stake in shares of HP by 2,151.8% in the 2nd quarter. California State Teachers Retirement System now owns 35,563,906 shares of the computer maker’s stock worth $780,272,000 after buying an additional 33,984,527 shares in the last quarter. Primecap Management Co. CA bought a new stake in shares of HP in the 2nd quarter worth $545,984,000. Legal & General Group Plc acquired a new stake in shares of HP in the second quarter valued at $180,689,000. Finally, DNB Asset Management AS lifted its holdings in shares of HP by 242.2% in the fourth quarter. DNB Asset Management AS now owns 10,594,630 shares of the computer maker’s stock valued at $236,048,000 after buying an additional 7,498,202 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

About HP

HP Inc is a global technology company that develops and sells personal computing and printing products and related services. Its Personal Systems business offers laptops, desktop computers, workstations, gaming PCs, monitors, peripherals and accessories for consumers, businesses and public-sector organizations.

Through its Printing business, HP provides home and office printers, commercial printing systems, supplies such as ink and toner, and managed print services. The company also offers software and solutions designed to support device management, security, productivity and digital workflows.

HP serves customers in markets around the world through direct sales, online channels, retailers, distributors and business partners.