On March 20, 2023, Goldman Sachs initiated coverage of HP with a Neutral recommendation.
Analyst Price Forecast Suggests 7.64% Upside
As of March 20, 2023, the average one-year price target for HP is $30.34. The forecasts range from a low of $24.24 to a high of $38.85. The average price target represents an increase of 7.64% from its latest reported closing price of $28.19.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for HP is $57,802MM, a decrease of 3.31%. The projected annual non-GAAP EPS is $3.35.
HP Declares $0.26 Dividend
On January 11, 2023 the company declared a regular quarterly dividend of $0.26 per share ($1.05 annualized). Shareholders of record as of March 8, 2023 will receive the payment on April 5, 2023. Previously, the company paid $0.26 per share.
At the current share price of $28.19 / share, the stock’s dividend yield is 3.72%. Looking back five years and taking a sample every week, the average dividend yield has been 3.14%, the lowest has been 2.15%, and the highest has been 5.14%. The standard deviation of yields is 0.61 (n=237).
The current dividend yield is 0.96 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.40. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.49%, demonstrating that it has increased its dividend over time.
What are Large Shareholders Doing?
Berkshire Hathaway holds 104,476K shares representing 10.60% ownership of the company. No change in the last quarter.
Dodge & Cox holds 52,451K shares representing 5.32% ownership of the company. In it’s prior filing, the firm reported owning 54,439K shares, representing a decrease of 3.79%. The firm decreased its portfolio allocation in HPQ by 5.98% over the last quarter.
DODGX – Dodge & Cox Stock Fund holds 37,418K shares representing 3.80% ownership of the company. In it’s prior filing, the firm reported owning 38,173K shares, representing a decrease of 2.02%. The firm decreased its portfolio allocation in HPQ by 5.26% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 27,541K shares representing 2.80% ownership of the company. In it’s prior filing, the firm reported owning 27,892K shares, representing a decrease of 1.27%. The firm decreased its portfolio allocation in HPQ by 1.68% over the last quarter.
Primecap Management holds 22,471K shares representing 2.28% ownership of the company. In it’s prior filing, the firm reported owning 23,553K shares, representing a decrease of 4.82%. The firm decreased its portfolio allocation in HPQ by 99.90% over the last quarter.
What is the Fund Sentiment?
There are 1865 funds or institutions reporting positions in HP. This is a decrease of 17 owner(s) or 0.90% in the last quarter. Average portfolio weight of all funds dedicated to HPQ is 0.24%, a decrease of 4.13%. Total shares owned by institutions decreased in the last three months by 2.29% to 875,323K shares. The put/call ratio of HPQ is 1.16, indicating a bearish outlook.
HP Background Information
(This description is provided by the company.)
HP Inc. creates technology that makes life better for everyone, everywhere. Through our product and service portfolio of personal systems, printers and 3D printing solutions, we engineer experiences that amaze.
This article originally appeared on Fintel
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