HP (NYSE:HPQ) Price Target Lowered to $30.00 at Sanford C. Bernstein

HP (NYSE:HPQGet Rating) had its price target lowered by Sanford C. Bernstein from $40.00 to $30.00 in a research report report published on Tuesday, The Fly reports.

Several other equities analysts also recently commented on HPQ. Cowen lowered their price target on HP from $38.00 to $30.00 and set a market perform rating on the stock in a report on Wednesday, August 31st. Morgan Stanley lowered their price objective on shares of HP from $30.00 to $28.00 and set an underweight rating on the stock in a research note on Wednesday, August 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of HP from $36.00 to $32.00 and set a hold rating on the stock in a research note on Wednesday, August 31st. UBS Group lowered their price objective on shares of HP from $40.00 to $32.00 and set a neutral rating on the stock in a research note on Wednesday, August 31st. Finally, Evercore ISI lowered their price objective on shares of HP to $33.00 in a research note on Tuesday, September 6th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $30.79.

HP Stock Down 1.9 %

HPQ stock opened at $26.45 on Tuesday. HP has a fifty-two week low of $26.09 and a fifty-two week high of $41.47. The firm’s 50-day simple moving average is $31.49 and its 200 day simple moving average is $34.65. The stock has a market cap of $26.61 billion, a PE ratio of 4.62, a price-to-earnings-growth ratio of 2.44 and a beta of 0.96.

HP (NYSE:HPQGet Rating) last announced its earnings results on Tuesday, August 30th. The computer maker reported $1.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.04. HP had a net margin of 9.72% and a negative return on equity of 220.16%. The firm had revenue of $14.66 billion during the quarter, compared to analyst estimates of $15.63 billion. During the same quarter in the prior year, the firm posted $1.00 EPS. HP’s revenue was down 4.1% compared to the same quarter last year. Equities analysts forecast that HP will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling at HP

In related news, CFO Marie Myers sold 4,500 shares of HP stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $33.05, for a total value of $148,725.00. Following the transaction, the chief financial officer now directly owns 13,500 shares of the company’s stock, valued at $446,175. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Enrique Lores sold 34,000 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $32.67, for a total transaction of $1,110,780.00. Following the completion of the sale, the chief executive officer now owns 551,204 shares in the company, valued at $18,007,834.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Marie Myers sold 4,500 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $33.05, for a total value of $148,725.00. Following the completion of the transaction, the chief financial officer now owns 13,500 shares of the company’s stock, valued at approximately $446,175. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,000 shares of company stock worth $1,406,520. 0.22% of the stock is currently owned by insiders.

Institutional Trading of HP

A number of institutional investors have recently added to or reduced their stakes in the stock. New England Asset Management Inc. increased its position in shares of HP by 11,092.9% during the 2nd quarter. New England Asset Management Inc. now owns 16,484,459 shares of the computer maker’s stock valued at $540,361,000 after purchasing an additional 16,337,183 shares during the last quarter. Norges Bank bought a new stake in shares of HP in the 4th quarter worth $454,451,000. Los Angeles Capital Management LLC grew its holdings in shares of HP by 41.6% in the first quarter. Los Angeles Capital Management LLC now owns 7,016,972 shares of the computer maker’s stock worth $254,716,000 after acquiring an additional 2,061,479 shares during the period. Pacer Advisors Inc. grew its holdings in shares of HP by 183.9% in the first quarter. Pacer Advisors Inc. now owns 2,133,518 shares of the computer maker’s stock worth $77,447,000 after acquiring an additional 1,381,919 shares during the period. Finally, State Street Corp grew its holdings in shares of HP by 1.7% in the first quarter. State Street Corp now owns 57,873,437 shares of the computer maker’s stock worth $2,115,148,000 after acquiring an additional 980,653 shares during the period. Hedge funds and other institutional investors own 81.17% of the company’s stock.

About HP

(Get Rating)

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.

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