HP Inc. Receives Rating Update from Equity Analysts

HP Inc. Stock Rating Lowered

Technology giant HP Inc. HPQ, known for its personal computers and printers, experienced a change in its stock rating by analysts at StockNews.com. Previously rated as a 'strong-buy,' HPQ has been downgraded to a 'buy' rating. This adjustment was conveyed to investors in a research note issued on Thursday, signaling a shift in the equity research firm's outlook on the company's stock.

Analysts' Perspectives on HPQ

In addition to StockNews.com's revision, a number of other analysts have offered their insights on HPQ. Deutsche Bank Aktiengesellschaft reduced their price target from $32.00 to $30.00 while maintaining a 'hold' rating. Morgan Stanley slightly elevated their price target to $31.00 and continued with an 'equal weight' rating. Edward Jones upgraded from 'hold' to 'buy,' contrasting JPMorgan Chase & Co. JPM, who lowered their price objective yet designated an 'overweight' rating. Barclays placed HPQ under the 'underweight' category after decreasing their price objective. The mixed views result in an overall 'Hold' consensus with an average price target of $30.55 based on MarketBeat.com's compiled data.

Trading Activity and Financials of HPQ

The trading session on Thursday saw the opening of HPQ at $27.21. With a market cap of approximately $26.89 billion, HPQ posted a 52-week range between $25.22 and $33.90. Current moving averages indicate a 50-day at $27.14 and a 200-day at $29.65. The price-to-earnings ratio stood at 11.73, with a PEG ratio of 2.25 and a beta of 1.04.

Last reported quarterly results on August 29th showcased earnings per share of $0.86, aligning with consensus estimates. The reported revenue of $13.20 billion, however, was slightly below the anticipated $13.38 billion. Compared to the prior year's same quarter, revenue experienced a decline of 9.9%. Predictions suggest an EPS of 3.3 for the current fiscal year.

Insider Activity within HPQ

Significant transactions within HPQ include the sale of 38,000 shares by CEO Enrique Lores at an average price of $25.75, totaling around $978,500. Post transaction, Lores retains 728,268 shares valued at approximately $18,752,901. CFO Marie Myers also partook in the sale of 4,165 shares at $30.00 each, amounting to $124,950. The insider ownership within the company stands at a minor 0.32%.

Institutional Investments and HPQ

Noteworthy adjustments in HPQ holdings have been made by institutional investors. Cantor Fitzgerald Investment Advisor L.P upped their stake by 89.9%, now owning shares valued at over $31 million. Canada Pension Plan Investment Board and Cetera Investment Advisers boosted their positions, while Prudential PLC PUK also invested during the same period. Institutional participation extends to 76.04% of HPQ's stock.

Overview of HPQ's Operations

HPQ operates globally, providing its diversified portfolio of PCs, related accessories, and services to consumers and businesses. The company has its segmentation in Personal Systems and Printing, catering to various sectors including government and education.

Other Mentioned Stock Tickers

In the investment landscape, not only has HPQ been an area of interest but so have other enterprises. Occidental Petroleum Corporation OXY focuses on oil and gas exploration and petrochemical production. Barclays PLC BCS runs a vast array of financial services across multiple regions. Investment banking giant JPMorgan Chase & Co. JPM offers a wide spectrum of banking services. Morgan Stanley MS, similarly, is a leader in investment banking. Prudential plc PUK specializes in insurance and financial services. Moving to the pharmaceutical sector, Vertex Pharmaceuticals Inc. VRTX is at the forefront with its biopharmaceutical advancements.

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