JPMorgan Chase & Co. Has Lowered Expectations for HP (NYSE:HPQ) Stock Price

HP (NYSE:HPQ) had its target price cut by JPMorgan Chase & Co. from $40.00 to $29.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the computer maker’s stock.

Several other equities analysts have also issued reports on the company. TD Cowen lowered their target price on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Barclays raised their price objective on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Sanford C. Bernstein upped their target price on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Loop Capital dropped their price target on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. Finally, StockNews.com cut HP from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, HP has an average rating of “Hold” and an average target price of $34.00.

HP Stock Performance

HPQ opened at $23.77 on Thursday. HP has a twelve month low of $21.21 and a twelve month high of $39.80. The firm has a market cap of $22.41 billion, a PE ratio of 8.46, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The firm’s fifty day moving average is $28.75 and its two-hundred day moving average is $32.82.

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

HP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.87%. The ex-dividend date was Wednesday, March 12th. HP’s dividend payout ratio (DPR) is 41.37%.

Insider Transactions at HP

In other news, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now directly owns 169 shares in the company, valued at $4,814.81. The trade was a 99.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Institutional Trading of HP

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC raised its stake in HP by 8.7% in the 3rd quarter. Barclays PLC now owns 2,307,573 shares of the computer maker’s stock valued at $82,772,000 after acquiring an additional 183,741 shares during the period. Te Ahumairangi Investment Management Ltd lifted 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 buying an additional 5,360 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new stake in shares of HP during the 3rd quarter worth about $237,000. World Investment Advisors LLC acquired a new position in HP in the 3rd quarter valued at about $324,000. Finally, Arvest Bank Trust Division bought a new position in HP in the 3rd quarter valued at about $11,745,000. Institutional investors own 77.53% 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.