HP (NYSE:HPQ) Price Target Lowered to $38.00 at TD Cowen

HP (NYSE:HPQ) had its price objective decreased by TD Cowen from $39.00 to $38.00 in a report published on Friday morning, Marketbeat.com reports. TD Cowen currently has a hold rating on the computer maker’s stock.

A number of other analysts have also commented on the company. HSBC lowered HP from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Citigroup decreased their price objective on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Sanford C. Bernstein increased their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Wells Fargo & Company increased their price objective on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.59.

HP Stock Down 7.2 %

Shares of HPQ stock opened at $30.75 on Friday. HP has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The stock has a market cap of $28.83 billion, a P/E ratio of 10.94, a P/E/G ratio of 2.96 and a beta of 1.05. The business has a fifty day simple moving average of $33.11 and a 200-day simple moving average of $34.84.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. On average, sell-side analysts anticipate that HP will post 3.56 earnings per share for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is 40.93%.

Insider Activity

In other news, insider Alex Cho sold 40,287 shares of HP stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,250,724.80. The trade was a 38.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 262,737 shares of company stock valued at $9,316,641 in the last three months. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On HP

Several hedge funds have recently modified their holdings of the stock. State Street Corp raised its holdings in shares of HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after buying an additional 3,923,161 shares during the period. Geode Capital Management LLC increased its holdings in HP by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock worth $825,398,000 after purchasing an additional 579,525 shares during the last quarter. Pacer Advisors Inc. increased its holdings in HP by 4.2% during the 4th quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after purchasing an additional 592,391 shares during the last quarter. Northern Trust Corp increased its holdings in HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock worth $419,126,000 after purchasing an additional 1,755,942 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in HP by 7.3% during the 4th quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker’s stock worth $310,351,000 after purchasing an additional 643,192 shares during the last quarter. 77.53% of the stock is currently owned by hedge funds and other 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.