HP (NYSE:HPQ) Price Target Lowered to $30.00 at Citigroup

HP (NYSE:HPQ) had its price objective decreased by Citigroup from $32.00 to $30.00 in a report issued on Wednesday, FlyOnTheWall reports.

A number of other research firms have also recently issued reports on HPQ. Deutsche Bank Aktiengesellschaft reduced their target price on shares of HP from $32.00 to $30.00 in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of HP from $31.00 to $32.00 and gave the stock an equal weight rating in a research note on Thursday, August 24th. Bank of America boosted their price objective on shares of HP from $26.00 to $27.00 in a research note on Wednesday, May 31st. JPMorgan Chase & Co. reduced their price objective on shares of HP from $40.00 to $39.00 in a research note on Wednesday. Finally, 58.com reaffirmed a maintains rating on shares of HP in a research report on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $29.75.

HP Stock Performance

HPQ stock opened at $29.29 on Wednesday. The stock has a market cap of $28.88 billion, a P/E ratio of 11.09, a P/E/G ratio of 2.34 and a beta of 1.01. The firm has a 50 day simple moving average of $31.76 and a 200 day simple moving average of $30.32. HP has a 52 week low of $24.08 and a 52 week high of $33.90.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, August 29th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.86. The firm had revenue of $13.20 billion during the quarter, compared to analysts’ expectations of $13.38 billion. HP had a net margin of 4.75% and a negative return on equity of 121.57%. The company’s revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 earnings per share. Sell-side analysts predict that HP will post 3.35 EPS for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a $0.2625 dividend. This represents a $1.05 annualized dividend and a yield of 3.58%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is presently 39.77%.

Insider Activity

In other news, CFO Marie Myers sold 4,165 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $30.70, for a total value of $127,865.50. Following the sale, the chief financial officer now owns 30,611 shares in the company, valued at approximately $939,757.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Enrique Lores sold 156,976 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $30.69, for a total transaction of $4,817,593.44. Following the transaction, the chief executive officer now owns 766,268 shares in the company, valued at approximately $23,516,764.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Marie Myers sold 4,165 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $30.70, for a total transaction of $127,865.50. Following the transaction, the chief financial officer now owns 30,611 shares in the company, valued at approximately $939,757.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 194,455 shares of company stock worth $5,986,805. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HPQ. Cantor Fitzgerald Investment Advisor L.P lifted its position in HP by 89.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 873,243 shares of the computer maker’s stock valued at $31,698,000 after purchasing an additional 413,491 shares during the period. Canada Pension Plan Investment Board lifted its position in HP by 46.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 305,877 shares of the computer maker’s stock valued at $11,103,000 after purchasing an additional 97,178 shares during the period. Prudential PLC acquired a new position in HP during the 1st quarter valued at about $892,000. Cetera Investment Advisers lifted its position in HP by 6.8% during the 1st quarter. Cetera Investment Advisers now owns 17,651 shares of the computer maker’s stock valued at $641,000 after purchasing an additional 1,121 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in HP during the 1st quarter valued at about $309,000. Institutional investors and hedge funds own 76.04% of the company’s stock.

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.