HP (NYSE:HPQ) Given New $35.00 Price Target at Barclays

HP (NYSE:HPQ) had its price objective boosted by Barclays from $32.00 to $35.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the computer maker’s stock.

HPQ has been the topic of several other reports. Morgan Stanley cut their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. decreased their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Loop Capital decreased their target price on HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, September 27th. Finally, UBS Group lifted their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, HP has a consensus rating of “Hold” and a consensus price target of $36.32.

HP Price Performance

Shares of HPQ stock opened at $34.66 on Wednesday. HP has a 1 year low of $27.42 and a 1 year high of $39.79. The firm has a fifty day moving average price of $36.56 and a 200-day moving average price of $35.52. The company has a market cap of $33.40 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 2.70 and a beta of 1.07.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. Equities research analysts expect that HP will post 3.39 EPS for the current year.

HP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a yield of 3.34%. This is a positive change from HP’s previous quarterly dividend of $0.28. HP’s payout ratio is 38.60%.

HP declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares in the company, valued at $99.48. This represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in shares of HP in the 3rd quarter valued at about $25,000. Triad Wealth Partners LLC purchased a new position in shares of HP in the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HP in the 2nd quarter valued at about $34,000. Wolff Wiese Magana LLC boosted its position in shares of HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after purchasing an additional 518 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of HP in the 3rd quarter valued at about $37,000. Hedge funds and other 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.