Loop Capital Has Lowered Expectations for HP (NYSE:HPQ) Stock Price

HP (NYSE:HPQ) had its price target lowered by Loop Capital from $35.00 to $30.00 in a research note published on Tuesday,Benzinga reports. Loop Capital currently has a hold rating on the computer maker’s stock.

A number of other equities research analysts also recently weighed in on HPQ. JPMorgan Chase & Co. lowered their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Wells Fargo & Company raised their price target on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. TD Cowen lowered their price target on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Finally, Barclays raised their price target on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, HP currently has an average rating of “Hold” and a consensus price target of $36.14.

HP Stock Performance

Shares of HPQ stock opened at $29.94 on Tuesday. HP has a 52-week low of $27.42 and a 52-week high of $39.79. The company has a market capitalization of $28.23 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. The business’s fifty day moving average is $32.81 and its 200 day moving average is $34.68.

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

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.87%. HP’s payout ratio is presently 41.37%.

Insider Buying and Selling

In related news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alex Cho sold 40,287 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at $2,250,724.80. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 262,737 shares of company stock valued at $9,316,641 over the last ninety days. 0.41% of the stock is owned by insiders.

Institutional Trading of HP

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its holdings in HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after buying an additional 3,923,161 shares during the period. Geode Capital Management LLC lifted its holdings in HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock worth $825,398,000 after buying an additional 579,525 shares during the period. Pacer Advisors Inc. lifted its holdings in HP by 4.2% in the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after buying an additional 592,391 shares during the period. Northern Trust Corp lifted its holdings in HP by 15.8% in the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock worth $419,126,000 after buying an additional 1,755,942 shares during the period. Finally, Invesco Ltd. lifted its holdings in HP by 7.3% in the fourth quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker’s stock worth $310,351,000 after buying an additional 643,192 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

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.