HP (NYSE:HPQ) Price Target Cut to $27.00 by Analysts at JPMorgan Chase & Co.

HP (NYSE:HPQ - Free Report) had its target price cut by JPMorgan Chase & Co. from $30.00 to $27.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the computer maker's stock.

HPQ has been the topic of a number of other reports. Citigroup increased their price objective on shares of HP from $25.00 to $29.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. TD Cowen reduced their price target on shares of HP from $38.00 to $28.00 and set a "hold" rating on the stock in a research note on Thursday. KGI Securities began coverage on shares of HP in a research note on Thursday. They issued a "neutral" rating on the stock. Morgan Stanley reiterated an "equal weight" rating on shares of HP in a report on Wednesday. Finally, Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $29.54.

HP Price Performance

Shares of HP stock traded down $0.07 on Thursday, hitting $24.88. The company had a trading volume of 16,291,226 shares, compared to its average volume of 7,912,801. The firm has a market capitalization of $23.45 billion, a P/E ratio of 8.85, a P/E/G ratio of 2.96 and a beta of 1.32. HP has a twelve month low of $21.21 and a twelve month high of $39.80. The stock has a 50-day moving average of $25.95 and a 200-day moving average of $30.69.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The firm had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business's revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. Equities analysts predict that HP will post 3.56 EPS for the current year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Wednesday, June 11th. HP's dividend payout ratio is presently 41.37%.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 15,646 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now owns 169 shares of the company's stock, valued at $4,814.81. The trade was a 99.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Institutional Investors Weigh In On HP

A number of large investors have recently bought and sold shares of HPQ. WPG Advisers LLC acquired a new stake in HP in the first quarter worth $25,000. Synergy Asset Management LLC acquired a new stake in HP in the fourth quarter worth $26,000. Stonebridge Financial Group LLC acquired a new stake in HP in the fourth quarter worth $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in HP in the first quarter worth $35,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in HP in the fourth quarter worth $36,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Company Profile

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.