HP (NYSE:HPQ) Given New $38.00 Price Target at TD Cowen

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

Several other equities research analysts have also issued reports on the company. HSBC lowered HP from a “buy” rating to a “hold” rating and dropped their price target for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Barclays upped their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Wells Fargo & Company upped their price objective on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Citigroup lowered their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.59.

HP Trading Down 7.2 %

HPQ stock opened at $30.75 on Friday. The firm 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. HP has a 12-month low of $27.42 and a 12-month high of $39.79. The stock’s 50 day simple moving average is $33.11 and its 200 day simple moving average is $34.84.

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

HP Dividend Announcement

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

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction on Monday, December 30th. The stock was 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 owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Alex Cho sold 40,287 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,250,724.80. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 262,737 shares of company stock valued at $9,316,641. 0.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in HP during the third quarter valued at about $25,000. Synergy Asset Management LLC bought a new position in HP during the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new position in HP during the fourth quarter valued at about $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in HP during the fourth quarter valued at about $36,000. Finally, OFI Invest Asset Management bought a new position in HP during the fourth quarter valued at about $37,000. 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.