HP (NYSE:HPQ) Given New $41.00 Price Target at JPMorgan Chase & Co.

HP (NYSE:HPQ) had its target price trimmed by JPMorgan Chase & Co. from $42.00 to $41.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the computer maker’s stock.

A number of other analysts have also weighed in on HPQ. Bank of America lowered 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. UBS Group boosted their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley lowered their price target 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. Barclays decreased their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, HP presently has a consensus rating of “Hold” and a consensus target price of $35.45.

HP Stock Down 0.5 %

NYSE HPQ opened at $36.70 on Wednesday. HP has a 52 week low of $27.42 and a 52 week high of $39.52. The firm has a market capitalization of $35.36 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 2.51 and a beta of 1.07. The company has a fifty day moving average of $36.17 and a two-hundred day moving average of $35.22.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. During the same period last year, the firm earned $0.86 earnings per share. HP’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts anticipate that HP will post 3.39 EPS for the current year.

HP declared that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to buy up to 28.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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 of the company’s stock, valued at approximately $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On HP

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. TD Private Client Wealth LLC lifted its holdings in shares of HP by 53.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 44,705 shares of the computer maker’s stock valued at $1,604,000 after purchasing an additional 15,571 shares during the last quarter. Toronto Dominion Bank lifted its stake in HP by 9.5% in the third quarter. Toronto Dominion Bank now owns 517,684 shares of the computer maker’s stock valued at $18,569,000 after buying an additional 44,698 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in HP in the third quarter valued at approximately $2,164,000. Geode Capital Management LLC grew its position in shares of HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after acquiring an additional 2,477,977 shares during the last quarter. Finally, Barclays PLC raised its position in HP by 8.7% in the 3rd quarter. Barclays PLC now owns 2,307,573 shares of the computer maker’s stock valued at $82,772,000 after purchasing an additional 183,741 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

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.