Evercore ISI Lowers HP (NYSE:HPQ) Price Target to $33.00

HP (NYSE:HPQGet Rating) had its price target cut by Evercore ISI to $33.00 in a report released on Tuesday, Stock Target Advisor reports.

A number of other research firms have also recently commented on HPQ. UBS Group cut their target price on HP from $40.00 to $32.00 and set a neutral rating on the stock in a research note on Wednesday, August 31st. Deutsche Bank Aktiengesellschaft cut their target price on HP from $36.00 to $32.00 and set a hold rating on the stock in a research note on Wednesday, August 31st. Loop Capital cut HP from a buy rating to a hold rating and cut their target price for the company from $50.00 to $29.00 in a research note on Thursday, September 1st. StockNews.com lowered HP from a buy rating to a hold rating in a report on Wednesday, August 31st. Finally, Credit Suisse Group lowered their price target on HP from $39.00 to $33.00 and set an outperform rating for the company in a report on Wednesday, August 31st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, HP presently has an average rating of Hold and a consensus price target of $31.50.

HP Price Performance

Shares of NYSE HPQ opened at $27.50 on Tuesday. The business’s 50 day moving average is $32.09 and its two-hundred day moving average is $35.03. HP has a 1-year low of $26.11 and a 1-year high of $41.47. The stock has a market capitalization of $28.44 billion, a P/E ratio of 4.81, a PEG ratio of 2.45 and a beta of 0.96.

HP (NYSE:HPQGet Rating) last released its earnings results on Tuesday, August 30th. The computer maker reported $1.04 EPS for the quarter, meeting analysts’ consensus estimates of $1.04. The firm had revenue of $14.66 billion for the quarter, compared to analysts’ expectations of $15.63 billion. HP had a negative return on equity of 220.16% and a net margin of 9.72%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. As a group, equities research analysts anticipate that HP will post 4.08 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 3.64%. HP’s dividend payout ratio is currently 17.48%.

Insiders Place Their Bets

In other HP news, CFO Marie Myers sold 4,500 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $33.05, for a total transaction of $148,725.00. Following the completion of the sale, the chief financial officer now owns 13,500 shares in the company, valued at $446,175. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Marie Myers sold 4,500 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $33.05, for a total transaction of $148,725.00. Following the transaction, the chief financial officer now directly owns 13,500 shares of the company’s stock, valued at $446,175. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Enrique Lores sold 34,000 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $32.67, for a total value of $1,110,780.00. Following the transaction, the chief executive officer now directly owns 551,204 shares in the company, valued at $18,007,834.68. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock worth $1,406,520 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On HP

A number of large investors have recently made changes to their positions in the business. KCM Investment Advisors LLC increased its position in shares of HP by 3.2% in the 4th quarter. KCM Investment Advisors LLC now owns 9,151 shares of the computer maker’s stock valued at $345,000 after acquiring an additional 280 shares during the period. Stonnington Group LLC increased its position in shares of HP by 5.3% in the 1st quarter. Stonnington Group LLC now owns 5,790 shares of the computer maker’s stock valued at $221,000 after acquiring an additional 290 shares during the period. Wakefield Asset Management LLLP increased its position in shares of HP by 2.8% in the 2nd quarter. Wakefield Asset Management LLLP now owns 11,089 shares of the computer maker’s stock valued at $364,000 after acquiring an additional 304 shares during the period. Vestmark Advisory Solutions Inc. increased its position in shares of HP by 2.9% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 11,330 shares of the computer maker’s stock valued at $371,000 after acquiring an additional 320 shares during the period. Finally, Barnett & Company Inc. increased its position in shares of HP by 0.9% in the 2nd quarter. Barnett & Company Inc. now owns 37,150 shares of the computer maker’s stock valued at $1,218,000 after acquiring an additional 325 shares during the period. 81.17% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for HP (NYSE:HPQ)

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