Barclays Increases HP (NYSE:HPQ) Price Target to $36.00

HP (NYSE:HPQ) had its price objective increased by Barclays from $35.00 to $36.00 in a research note published on Friday,Benzinga reports. Barclays currently has an equal weight rating on the computer maker’s stock.

HPQ has been the topic of a number of other research reports. Wells Fargo & Company lifted their price target on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. TD Cowen decreased their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday. JPMorgan Chase & Co. decreased their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, Citigroup reduced their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.59.

HP Trading Down 7.2 %

Shares of HP stock opened at $30.75 on Friday. HP has a 1 year low of $27.42 and a 1 year high of $39.79. The company’s fifty day simple moving average is $33.11 and its 200-day simple moving average is $34.84. The company has a market cap of $28.83 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 2.96 and a beta of 1.05.

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, hitting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. As a group, research analysts forecast that HP will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

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

Insider Activity at HP

In related news, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the completion of the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at $1,933,898.67. The trade was a 56.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now directly owns 6,277 shares of the company’s stock, 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 sold 262,737 shares of company stock valued at $9,316,641 over the last ninety days. 0.41% of the stock is owned by insiders.

Institutional Trading of HP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. West Paces Advisors Inc. raised its holdings in HP by 3.2% during the 4th quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker’s stock worth $314,000 after purchasing an additional 298 shares during the last quarter. TIAA Trust National Association raised its holdings in HP by 1.8% during the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock worth $548,000 after purchasing an additional 302 shares during the last quarter. King Luther Capital Management Corp raised its holdings in HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after purchasing an additional 303 shares during the last quarter. HBK Sorce Advisory LLC raised its holdings in HP by 2.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock worth $374,000 after purchasing an additional 306 shares during the last quarter. Finally, Arvest Investments Inc. raised its holdings in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after purchasing an additional 310 shares during the last quarter. 77.53% of the stock is owned by 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.