Morgan Stanley Trims HP (NYSE:HPQ) Target Price to $36.00

HP (NYSE:HPQ) had its price target trimmed by Morgan Stanley from $37.00 to $36.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the computer maker’s stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company upped their price target on HP from $25.00 to $30.00 and gave the stock an underweight rating in a report on Thursday, May 30th. UBS Group upped their price target on HP from $34.00 to $37.00 and gave the stock a neutral rating in a report on Thursday. TD Cowen upped their price target on HP from $30.00 to $32.00 and gave the stock a hold rating in a report on Thursday, May 30th. Bank of America upped their price target on HP from $35.00 to $37.00 and gave the stock a buy rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their price objective on HP from $38.00 to $42.00 and gave the company an overweight rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $35.60.

HP Stock Up 2.0 %

Shares of NYSE:HPQ opened at $36.18 on Thursday. HP has a twelve month low of $25.22 and a twelve month high of $39.52. The stock’s 50 day moving average is $35.47 and its 200-day moving average is $32.43. The firm has a market capitalization of $35.40 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a negative return on equity of 230.39% and a net margin of 5.60%. The firm had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same period in the previous year, the company earned $0.86 earnings per share. HP’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that HP will post 3.45 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a dividend of $0.2756 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 3.05%. HP’s payout ratio is 37.16%.

Insider Transactions at HP

In other news, insider Alex Cho sold 173,137 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at approximately $2,335,450.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HPQ. International Assets Investment Management LLC bought a new position in shares of HP during the 4th quarter worth $1,471,000. Atria Wealth Solutions Inc. lifted its holdings in HP by 7.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 29,318 shares of the computer maker’s stock worth $887,000 after purchasing an additional 2,086 shares in the last quarter. Van ECK Associates Corp lifted its holdings in HP by 8.2% during the 4th quarter. Van ECK Associates Corp now owns 30,151 shares of the computer maker’s stock worth $907,000 after purchasing an additional 2,293 shares in the last quarter. Brighton Jones LLC lifted its holdings in HP by 7.1% during the 4th quarter. Brighton Jones LLC now owns 21,964 shares of the computer maker’s stock worth $661,000 after purchasing an additional 1,456 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its holdings in HP by 33.2% during the 4th quarter. First Trust Direct Indexing L.P. now owns 28,412 shares of the computer maker’s stock worth $855,000 after purchasing an additional 7,089 shares in the last quarter. 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.