HP (NYSE:HPQ) PT Raised to $35.00 at Bank of America

HP (NYSE:HPQ - Get Free Report) had its target price upped by Bank of America from $32.00 to $35.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a "buy" rating on the computer maker's stock. Bank of America's price objective would indicate a potential upside of 12.65% from the stock's previous close.

Several other analysts have also weighed in on the company. StockNews.com lowered HP from a "strong-buy" rating to a "buy" rating in a report on Friday, March 1st. Barclays increased their price target on HP from $22.00 to $24.00 and gave the stock an "underweight" rating in a research report on Thursday, February 29th. Finally, HSBC upgraded HP from a "hold" rating to a "buy" rating and lifted their price objective for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

HP Stock Performance

Shares of NYSE HPQ traded down $0.29 during trading hours on Thursday, hitting $31.07. The stock had a trading volume of 5,736,451 shares, compared to its average volume of 7,677,947. The firm's 50-day moving average price is $29.30 and its two-hundred day moving average price is $29.10. HP has a 52 week low of $25.22 and a 52 week high of $33.90. The company has a market capitalization of $30.47 billion, a P/E ratio of 9.17, a P/E/G ratio of 2.50 and a beta of 1.06.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The company had revenue of $13.19 billion during the quarter, compared to analysts' expectations of $13.56 billion. During the same period in the prior year, the business earned $0.75 earnings per share. HP's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, analysts expect that HP will post 3.42 EPS for the current fiscal year.

Insider Activity at HP

In related news, insider Kristen M. Ludgate sold 41,015 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the sale, the insider now owns 56,169 shares of the company's stock, valued at $1,642,381.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other HP news, insider Stephanie Liebman sold 8,708 shares of HP stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kristen M. Ludgate sold 41,015 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares of the company's stock, valued at approximately $1,642,381.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,723 shares of company stock worth $3,479,287. Insiders own 0.41% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. boosted its stake in HP by 1.4% during the 4th quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker's stock valued at $778,000 after purchasing an additional 362 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in shares of HP by 47.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker's stock worth $36,000 after acquiring an additional 380 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of HP by 18.8% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker's stock valued at $73,000 after purchasing an additional 382 shares during the last quarter. Jacobi Capital Management LLC lifted its position in shares of HP by 1.2% during the first quarter. Jacobi Capital Management LLC now owns 34,228 shares of the computer maker's stock valued at $1,034,000 after purchasing an additional 390 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker's stock worth $26,000 after purchasing an additional 397 shares during the last quarter. 77.53% of the stock is owned by institutional investors.

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.