HP (NYSE:HPQ) Price Target Cut to $25.00 by Analysts at Wells Fargo & Company

HP (NYSE:HPQGet Rating) had its price target trimmed by Wells Fargo & Company from $30.00 to $25.00 in a research report sent to investors on Wednesday, The Fly reports. The brokerage currently has an underweight rating on the computer maker’s stock.

HPQ has been the topic of a number of other reports. Citigroup reduced their price objective on HP from $37.00 to $33.00 in a research note on Wednesday. Credit Suisse Group lowered their price objective on shares of HP from $39.00 to $33.00 and set an outperform rating for the company in a report on Wednesday. Barclays lowered their target price on shares of HP from $32.00 to $27.00 and set an underweight rating for the company in a report on Wednesday. StockNews.com downgraded shares of HP from a buy rating to a hold rating in a research report on Wednesday. Finally, Morgan Stanley cut their target price on shares of HP from $31.00 to $30.00 and set an underweight rating for the company in a research report on Thursday, August 11th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $33.64.

HP Trading Down 7.7 %

HP stock opened at $28.71 on Wednesday. HP has a 12 month low of $26.11 and a 12 month high of $41.47. The business’s 50 day simple moving average is $32.88 and its 200 day simple moving average is $35.41. The company has a market cap of $29.69 billion, a price-to-earnings ratio of 5.16, a PEG ratio of 1.84 and a beta of 0.92.

HP (NYSE:HPQGet Rating) last posted its quarterly earnings data on Tuesday, August 30th. The computer maker reported $1.04 EPS for the quarter, meeting the consensus estimate of $1.04. The business had revenue of $14.66 billion for the quarter, compared to the consensus estimate of $15.63 billion. HP had a negative return on equity of 188.59% and a net margin of 9.61%. HP’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. As a group, equities research analysts forecast that HP will post 4.28 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 13th. This represents a $1.00 annualized dividend and a yield of 3.48%. HP’s dividend payout ratio is presently 17.99%.

Insider Buying and Selling at HP

In other news, CFO Marie Myers sold 4,500 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.67, for a total value of $147,015.00. Following the transaction, the chief financial officer now directly owns 18,000 shares of the company’s stock, valued at $588,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other HP news, CFO Marie Myers sold 4,500 shares of HP stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $147,015.00. Following the completion of the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at $588,060. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $1,110,780.00. Following the completion of the transaction, the chief executive officer now owns 551,204 shares of the company’s stock, valued at approximately $18,007,834.68. The disclosure for this sale can be found here. Insiders have sold a total of 49,219 shares of company stock valued at $1,648,750 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of HP

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in HP by 0.6% in the 1st quarter. BlackRock Inc. now owns 101,201,027 shares of the computer maker’s stock valued at $3,673,596,000 after purchasing an additional 573,468 shares during the last quarter. State Street Corp raised its position in HP by 1.7% in the 1st quarter. State Street Corp now owns 57,873,437 shares of the computer maker’s stock valued at $2,115,148,000 after purchasing an additional 980,653 shares during the last quarter. Geode Capital Management LLC raised its position in HP by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 22,903,476 shares of the computer maker’s stock valued at $861,205,000 after purchasing an additional 177,208 shares during the last quarter. New England Asset Management Inc. raised its position in HP by 11,092.9% in the 2nd quarter. New England Asset Management Inc. now owns 16,484,459 shares of the computer maker’s stock valued at $540,361,000 after purchasing an additional 16,337,183 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in HP by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,405,197 shares of the computer maker’s stock worth $486,668,000 after buying an additional 59,904 shares during the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

About HP

(Get Rating)

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.

Read More

The Fly logo

Analyst Recommendations for HP (NYSE:HPQ)

Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.