HP (NYSE:HPQ) Price Target Raised to $35.00 at Wells Fargo & Company

HP (NYSE:HPQ) had its target price hoisted by Wells Fargo & Company from $30.00 to $35.00 in a research report report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the computer maker’s stock.

Other equities research analysts also recently issued research reports about the stock. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Barclays raised their price target on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Sanford C. Bernstein lifted their target price 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. Citigroup cut their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. cut their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.68.

HP Stock Performance

HPQ stock opened at $34.73 on Thursday. The firm has a 50 day moving average price of $33.10 and a 200-day moving average price of $34.81. HP has a 52-week low of $27.42 and a 52-week high of $39.79. The firm has a market capitalization of $32.57 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 2.96 and a beta of 1.05.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, sell-side analysts forecast that HP will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently disclosed 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. This represents a $1.16 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is currently 41.28%.

Insider Activity

In other HP news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the sale, the chief executive officer now owns 89,272 shares in the company, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock valued at $9,670,068 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of HP

Several institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in HP by 16.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after buying an additional 160,268 shares in the last quarter. Oak Thistle LLC boosted its position in shares of HP by 169.3% during the fourth quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock worth $1,132,000 after acquiring an additional 21,805 shares during the last quarter. Tidal Investments LLC grew its stake in HP by 47.5% during the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after acquiring an additional 47,230 shares in the last quarter. MML Investors Services LLC increased its holdings in HP by 35.0% in the 3rd quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after acquiring an additional 16,207 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in HP by 4.3% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker’s stock worth $14,581,000 after purchasing an additional 18,557 shares in the last quarter. Hedge funds and other 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.