HP (NYSE:HPQ) Cut to Hold at Dbs Bank

Dbs Bank downgraded shares of HP (NYSE:HPQ - Free Report) from a moderate buy rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on HPQ. JPMorgan Chase & Co. reduced their target price on shares of HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a research note on Thursday, May 29th. Evercore ISI dropped their price objective on HP from $40.00 to $32.00 and set an "outperform" rating for the company in a report on Monday, April 28th. TD Cowen decreased their target price on HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Barclays set a $28.00 price target on shares of HP and gave the stock an "equal weight" rating in a report on Thursday, May 29th. Finally, Wells Fargo & Company dropped their target price on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $29.54.

HP Stock Down 3.8%

NYSE:HPQ traded down $0.93 on Wednesday, reaching $23.81. 4,238,762 shares of the company's stock traded hands, compared to its average volume of 7,845,879. The stock has a 50-day simple moving average of $25.69 and a 200-day simple moving average of $29.93. HP has a 12 month low of $21.21 and a 12 month high of $39.80. The firm has a market cap of $22.36 billion, a PE ratio of 8.48, a P/E/G ratio of 2.96 and a beta of 1.30.

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

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio is presently 44.40%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. WPG Advisers LLC acquired a new stake in shares of HP in the first quarter valued at about $25,000. Stonebridge Financial Group LLC acquired a new stake in HP during the 4th quarter worth $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of HP during the fourth quarter worth $36,000. OFI Invest Asset Management acquired a new stake in shares of HP in the fourth quarter valued at about $37,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in HP during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

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.