Wells Fargo & Company Lowers HP (NYSE:HPQ) Price Target to $25.00

HP (NYSE:HPQ - Free Report) had its price target reduced by Wells Fargo & Company from $35.00 to $25.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the computer maker's stock.

Several other brokerages also recently commented on HPQ. Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Loop Capital lowered their price objective on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, March 4th. UBS Group dropped their price objective on HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday. Morgan Stanley decreased their target price on HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, Bank of America dropped their price target on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $29.54.

HP Price Performance

Shares of NYSE HPQ traded up $0.01 during mid-day trading on Thursday, hitting $24.91. The company's stock had a trading volume of 9,577,578 shares, compared to its average volume of 8,240,582. HP has a one year low of $21.21 and a one year high of $39.79. The company's fifty day simple moving average is $25.95 and its 200-day simple moving average is $30.61. The stock has a market cap of $23.48 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The company 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%. HP's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. On average, sell-side analysts predict that HP will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be given a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $1.16 annualized dividend and a dividend yield of 4.65%. HP's dividend payout ratio is currently 44.40%.

Insider Activity at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of HP 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 transaction, the insider now owns 169 shares in the company, valued at approximately $4,814.81. This trade represents a 99.22% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HPQ. West Paces Advisors Inc. boosted its position in HP by 3.2% during the fourth quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker's stock valued at $314,000 after acquiring an additional 298 shares during the last quarter. TIAA Trust National Association boosted its position in shares of HP by 1.8% during the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker's stock valued at $548,000 after purchasing an additional 302 shares in the last quarter. HBK Sorce Advisory LLC grew its stake in HP by 2.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker's stock worth $374,000 after purchasing an additional 306 shares during the period. Auxano Advisors LLC increased its holdings in HP by 3.7% in the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker's stock worth $282,000 after purchasing an additional 310 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its holdings in shares of HP by 2.7% during the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker's stock worth $400,000 after buying an additional 319 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.

About HP

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.