HP (NYSE:HPQ) Price Target Cut to $25.00 by Analysts at Citigroup

HP (NYSE:HPQ) had its price target trimmed by Citigroup from $36.50 to $25.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the computer maker’s stock.

HPQ has been the topic of several other research reports. StockNews.com downgraded HP from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Wells Fargo & Company upped their price objective on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. TD Cowen decreased their target price on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Sanford C. Bernstein boosted their price target on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Finally, Barclays increased their price objective on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, HP has a consensus rating of “Hold” and a consensus target price of $35.09.

HP Price Performance

Shares of HPQ opened at $24.06 on Monday. HP has a 12 month low of $21.21 and a 12 month high of $39.80. The stock has a fifty day moving average price of $29.28 and a 200 day moving average price of $33.03. The company has a market cap of $22.68 billion, a P/E ratio of 8.56, a PEG ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last announced 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 company 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%. As a group, research analysts anticipate that HP will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.2894 per share. The ex-dividend date was Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.81%. HP’s payout ratio is presently 41.37%.

Insider Buying and Selling at HP

In other news, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HPQ. Wellington Management Group LLP grew its holdings in shares of HP by 5.8% during the 3rd quarter. Wellington Management Group LLP now owns 230,347 shares of the computer maker’s stock valued at $8,263,000 after acquiring an additional 12,531 shares in the last quarter. MML Investors Services LLC grew its stake in HP by 35.0% in the third quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after purchasing an additional 16,207 shares in the last quarter. Barclays PLC increased its position in HP by 8.7% in the 3rd quarter. Barclays PLC now owns 2,307,573 shares of the computer maker’s stock worth $82,772,000 after purchasing an additional 183,741 shares during the last quarter. Te Ahumairangi Investment Management Ltd raised its stake in shares of HP by 3.4% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 161,418 shares of the computer maker’s stock worth $5,757,000 after purchasing an additional 5,360 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co purchased a new stake in shares of HP during the 3rd quarter worth about $237,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

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.