Alliancebernstein L.P. Cuts Stake in HP Inc. (NYSE:HPQ)

Alliancebernstein L.P. cut its stake in HP Inc. (NYSE:HPQ) by 9.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,364,670 shares of the computer maker’s stock after selling 139,528 shares during the quarter. Alliancebernstein L.P.’s holdings in HP were worth $44,529,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Synergy Asset Management LLC purchased a new position in shares of HP in the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new position in HP in the 4th quarter valued at $31,000. OFI Invest Asset Management acquired a new stake in HP during the 4th quarter worth $37,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of HP during the fourth quarter worth $50,000. Finally, Summit Securities Group LLC acquired a new stake in shares of HP in the fourth quarter valued at about $55,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Loop Capital lowered their target price on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. Morgan Stanley lowered their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. StockNews.com raised shares of HP from a “hold” rating to a “buy” rating in a research note on Thursday, March 27th. TD Cowen reduced their price target on shares of 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 target price on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.14.

HP Price Performance

Shares of NYSE:HPQ opened at $22.58 on Friday. The firm has a market capitalization of $21.29 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a 1 year low of $21.96 and a 1 year high of $39.80. The firm’s 50-day moving average is $30.78 and its two-hundred day moving average is $33.71.

HP (NYSE:HPQ) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. Analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a $0.2894 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 5.13%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Insiders Place Their Bets

In other news, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares of the company’s stock, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

HP 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.