Loop Capital Cuts HP (NYSE:HPQ) Price Target to $30.00

HP (NYSE:HPQ) had its target price reduced by Loop Capital from $35.00 to $30.00 in a report published on Tuesday morning,Benzinga reports. They currently have a hold rating on the computer maker’s stock.

A number of other analysts have also commented on HPQ. TD Cowen decreased their price objective on HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, February 28th. Wells Fargo & Company boosted their price objective on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. HSBC lowered HP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Morgan Stanley decreased their price objective on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. decreased their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, HP presently has a consensus rating of “Hold” and an average target price of $36.14.

HP Trading Up 1.4 %

HPQ opened at $29.94 on Tuesday. HP has a 1-year low of $27.42 and a 1-year high of $39.79. The company has a market cap of $28.23 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. The company has a fifty day moving average price of $32.81 and a two-hundred day moving average price of $34.68.

HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, research analysts forecast that HP will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is 41.37%.

Insider Buying and Selling at HP

In other HP news, insider Kristen M. Ludgate sold 74,356 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the sale, the insider now owns 56,169 shares in the company, valued at $1,933,898.67. This represents a 56.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Enrique Lores sold 137,094 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the sale, the chief executive officer now owns 89,272 shares in the company, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 262,737 shares of company stock valued at $9,316,641. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On HP

Several institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its position in shares of HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after acquiring an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of HP by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock worth $825,398,000 after acquiring an additional 579,525 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of HP by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after acquiring an additional 592,391 shares in the last quarter. Northern Trust Corp raised its position in shares of HP by 15.8% in the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock worth $419,126,000 after buying an additional 1,755,942 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of HP by 7.3% in the fourth quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker’s stock worth $310,351,000 after buying an additional 643,192 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

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.