HP (NYSE:HPQ - Free Report) had its target price lowered by Morgan Stanley from $29.00 to $26.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the computer maker's stock.
Other analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Bank of America cut their target price on shares of HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Evercore ISI decreased their price target on shares of HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Barclays set a $28.00 price objective on HP and gave the company an "equal weight" rating in a research report on Thursday. Finally, Citigroup decreased their target price on HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $29.54.
Read Our Latest Analysis on HPQ
HP Stock Performance
NYSE:HPQ traded up $0.01 during midday trading on Thursday, reaching $24.91. 7,716,510 shares of the stock traded hands, compared to its average volume of 7,831,014. The stock has a market capitalization of $23.48 billion, a P/E ratio of 8.86, a PEG ratio of 2.96 and a beta of 1.32. The company has a fifty day moving average of $25.95 and a 200 day moving average of $30.61. HP has a 12 month low of $21.21 and a 12 month high of $39.80.
HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 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 net margin of 5.18% and a negative return on equity of 253.39%. The business's revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.82 earnings per share. On average, analysts predict that HP will post 3.56 EPS for the current fiscal year.
HP Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be paid a dividend of $0.2894 per share. The ex-dividend date 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 related news, insider Stephanie Liebman sold 15,646 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares in the company, valued at $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 corporate insiders.
Institutional Trading of HP
Several hedge funds have recently modified their holdings of the company. West Paces Advisors Inc. grew its position in shares of HP by 3.2% in the 4th quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker's stock worth $314,000 after buying an additional 298 shares during the last quarter. TIAA Trust National Association grew its holdings in HP by 1.8% in the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker's stock worth $548,000 after purchasing an additional 302 shares during the last quarter. HBK Sorce Advisory LLC increased its position in shares of 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 in the last quarter. Auxano Advisors LLC increased its position in shares of HP by 3.7% during 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 lifted 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 valued at $400,000 after purchasing an additional 319 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.
About HP
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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.
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