HP (NYSE:HPQ) Stock Rating Lowered by Morgan Stanley

Morgan Stanley lowered shares of HP (NYSE:HPQ) from an overweight rating to an equal weight rating in a research report report published on Monday, Marketbeat Ratings reports. The brokerage currently has $37.00 target price on the computer maker’s stock.

HPQ has been the subject of several other reports. Wells Fargo & Company lifted their price objective on shares of HP from $25.00 to $30.00 and gave the stock an underweight rating in a research report on Thursday, May 30th. Citigroup lifted their price objective on shares of HP from $35.00 to $37.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Barclays lifted their price objective on shares of HP from $30.00 to $33.00 and gave the stock an equal weight rating in a research report on Thursday, May 30th. UBS Group lifted their price target on shares of HP from $31.00 to $34.00 and gave the stock a neutral rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of HP from $34.00 to $38.00 and gave the stock an overweight rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $34.64.

HP Stock Up 1.3 %

Shares of HPQ stock opened at $35.26 on Monday. HP has a 52 week low of $25.22 and a 52 week high of $39.52. The stock has a market capitalization of $34.50 billion, a PE ratio of 11.91, a P/E/G ratio of 2.24 and a beta of 1.09. The firm has a 50 day moving average of $35.59 and a two-hundred day moving average of $32.11.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter last year, the company posted $0.80 EPS. The firm’s revenue was down .8% compared to the same quarter last year. Analysts expect that HP will post 3.45 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a $0.2756 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a yield of 3.13%. HP’s dividend payout ratio is presently 37.16%.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 173,137 shares of HP stock in a transaction on Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of HP

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp boosted its holdings in shares of HP by 4.5% in the second quarter. Truist Financial Corp now owns 176,513 shares of the computer maker’s stock valued at $6,181,000 after acquiring an additional 7,678 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of HP by 19.0% in the second quarter. EP Wealth Advisors LLC now owns 27,844 shares of the computer maker’s stock valued at $975,000 after acquiring an additional 4,449 shares in the last quarter. Quarry LP boosted its holdings in HP by 454.9% during the second quarter. Quarry LP now owns 3,346 shares of the computer maker’s stock worth $117,000 after buying an additional 2,743 shares in the last quarter. William B. Walkup & Associates Inc. purchased a new stake in HP during the second quarter worth about $645,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in HP by 9.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,516 shares of the computer maker’s stock worth $1,454,000 after buying an additional 3,722 shares in the last quarter. 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.