UBS Group Boosts HP (NYSE:HPQ) Price Target to $37.00

HP (NYSE:HPQ) had its target price upped by UBS Group from $34.00 to $37.00 in a research note released on Thursday morning, Benzinga reports. UBS Group currently has a neutral rating on the computer maker’s stock.

A number of other equities research analysts also recently issued reports on HPQ. Wells Fargo & Company upped their price objective on shares of HP from $25.00 to $30.00 and gave the stock an underweight rating in a research report on Thursday, May 30th. Morgan Stanley lowered HP from an overweight rating to an equal weight rating and set a $37.00 target price for the company. in a research report on Monday, August 19th. Citigroup increased their price target on shares of HP from $35.00 to $37.00 and gave the company a buy rating in a research report on Thursday, May 30th. Bank of America increased their target price on shares of HP from $35.00 to $37.00 and gave the company a buy rating in a research report on Thursday, May 30th. Finally, TD Cowen lifted their price target on shares of HP from $30.00 to $32.00 and gave the stock a hold rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, HP currently has a consensus rating of Moderate Buy and an average price target of $35.60.

HP Stock Up 2.0 %

Shares of NYSE HPQ opened at $36.18 on Thursday. HP has a twelve month low of $25.22 and a twelve month high of $39.52. The firm has a fifty day simple moving average of $35.47 and a 200 day simple moving average of $32.46. The company has a market capitalization of $35.40 billion, a PE ratio of 12.22, a P/E/G ratio of 2.32 and a beta of 1.09.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. As a group, equities analysts expect that HP will post 3.4 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio (DPR) is presently 37.16%.

Insider Activity at HP

In other news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On HP

Several institutional investors have recently modified their holdings of HPQ. Triad Wealth Partners LLC purchased a new stake in shares of HP in the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in HP during the 2nd quarter worth $34,000. Sawyer & Company Inc increased its holdings in HP by 900.0% during the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after purchasing an additional 900 shares during the period. Rise Advisors LLC increased its holdings in HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares during the period. Finally, DecisionPoint Financial LLC bought a new stake in HP during the 2nd quarter valued at $43,000. 77.53% of the stock is owned by institutional investors.

About HP

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.