The Goldman Sachs Group Cuts HP (NYSE:HPQ) Price Target to $24.00

HP (NYSE:HPQ) had its price target decreased by The Goldman Sachs Group from $28.00 to $24.00 in a report published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the computer maker’s stock.

Several other equities analysts have also recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of HP in a research note on Wednesday, October 8th. Morgan Stanley cut their price objective on shares of HP from $21.00 to $20.00 and set an “underweight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. downgraded HP from an “overweight” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research report on Wednesday, October 22nd. Wall Street Zen cut HP from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Finally, Hsbc Global Res upgraded HP from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, HP has an average rating of “Hold” and an average price target of $25.69.

HP Stock Performance

NYSE HPQ opened at $24.39 on Wednesday. The stock has a 50-day simple moving average of $26.27 and a 200 day simple moving average of $26.33. HP has a twelve month low of $21.21 and a twelve month high of $36.93. The stock has a market capitalization of $22.80 billion, a PE ratio of 8.90, a P/E/G ratio of 2.23 and a beta of 1.28.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 25th. The computer maker reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. HP had a negative return on equity of 262.03% and a net margin of 4.83%.The company had revenue of $14.64 billion for the quarter, compared to the consensus estimate of $14.50 billion. During the same period in the previous year, the business posted $0.93 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. HP has set its FY 2026 guidance at 2.900-3.200 EPS. Q1 2026 guidance at 0.730-0.810 EPS. As a group, equities research analysts forecast that HP will post 3.56 EPS for the current fiscal year.

HP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 11th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, December 11th. This represents a $1.20 annualized dividend and a yield of 4.9%. This is a positive change from HP’s previous quarterly dividend of $0.29. HP’s payout ratio is presently 43.40%.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 34,282 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $26.85, for a total value of $920,471.70. Following the sale, the chief executive officer owned 3 shares in the company, valued at approximately $80.55. The trade was a 99.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anneliese Olson sold 18,154 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $27.88, for a total transaction of $506,133.52. Following the sale, the insider owned 169 shares of the company’s stock, valued at $4,711.72. This trade represents a 99.08% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of HP

Several large investors have recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of HP in the first quarter valued at approximately $179,037,000. Arrowstreet Capital Limited Partnership raised its position in HP by 186.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,378,723 shares of the computer maker’s stock valued at $228,153,000 after purchasing an additional 5,449,691 shares during the last quarter. AQR Capital Management LLC boosted its stake in HP by 143.4% in the third quarter. AQR Capital Management LLC now owns 9,039,803 shares of the computer maker’s stock worth $244,527,000 after purchasing an additional 5,325,260 shares in the last quarter. Norges Bank bought a new stake in shares of HP during the second quarter worth $91,698,000. Finally, Vanguard Group Inc. increased its stake in shares of HP by 2.5% in the third quarter. Vanguard Group Inc. now owns 129,658,754 shares of the computer maker’s stock valued at $3,530,608,000 after buying an additional 3,122,436 shares in the last quarter. 77.53% of the stock is owned by 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.