HP (NYSE:HPQ) Downgraded by Sanford C. Bernstein

Sanford C. Bernstein lowered shares of HP (NYSE:HPQ) from an outperform rating to a market perform rating in a research report report published on Monday morning, Briefing.com Automated Import reports. Sanford C. Bernstein currently has $20.00 price target on the computer maker’s stock.

Several other research analysts have also weighed in on the stock. Wells Fargo & Co raised shares of HP to a market perform rating and reduced their price objective for the stock from $23.00 to $20.00 in a research note on Friday, August 23rd. Barclays reduced their price objective on shares of HP from $21.00 to $20.00 and set an equal weight rating on the stock in a research note on Friday, August 23rd. UBS Group reduced their price objective on shares of HP from $28.00 to $26.00 and set a buy rating on the stock in a research note on Friday, August 23rd. Morgan Stanley reduced their price objective on shares of HP from $23.00 to $21.00 and set a weight rating on the stock in a research note on Friday, August 23rd. Finally, ValuEngine lowered shares of HP from a hold rating to a sell rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. HP presently has an average rating of Hold and an average price target of $22.07.

Shares of NYSE HPQ opened at $18.75 on Monday. The firm has a market capitalization of $27.87 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 2.68 and a beta of 1.43. HP has a 1 year low of $17.10 and a 1 year high of $27.08. The firm’s 50-day moving average is $19.31 and its 200-day moving average is $19.88.



HP (NYSE:HPQ) last issued its earnings results on Thursday, August 22nd. The computer maker reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. The company had revenue of $14.60 billion for the quarter, compared to analyst estimates of $14.58 billion. HP had a net margin of 7.18% and a negative return on equity of 265.02%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. As a group, equities research analysts expect that HP will post 2.21 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Tuesday, September 10th. HP’s payout ratio is currently 31.68%.

In other HP news, insider Claire Bramley sold 16,852 shares of HP stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $20.81, for a total value of $350,690.12. Following the transaction, the insider now owns 16,852 shares of the company’s stock, valued at $350,690.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kim M. Rivera sold 20,000 shares of HP stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $20.53, for a total transaction of $410,600.00. Following the completion of the transaction, the insider now directly owns 105,899 shares in the company, valued at approximately $2,174,106.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 606,987 shares of company stock worth $11,420,336. Insiders own 0.28% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in HPQ. Valeo Financial Advisors LLC raised its holdings in shares of HP by 4.2% in the second quarter. Valeo Financial Advisors LLC now owns 12,516 shares of the computer maker’s stock valued at $260,000 after purchasing an additional 502 shares during the last quarter. PagnatoKarp Partners LLC raised its holdings in shares of HP by 4.4% in the second quarter. PagnatoKarp Partners LLC now owns 14,284 shares of the computer maker’s stock valued at $299,000 after purchasing an additional 599 shares during the last quarter. Allstate Corp raised its holdings in shares of HP by 0.4% in the first quarter. Allstate Corp now owns 166,885 shares of the computer maker’s stock valued at $3,243,000 after purchasing an additional 614 shares during the last quarter. Cornerstone Advisors Inc. raised its holdings in shares of HP by 7.8% in the second quarter. Cornerstone Advisors Inc. now owns 8,719 shares of the computer maker’s stock valued at $181,000 after purchasing an additional 632 shares during the last quarter. Finally, Kanawha Capital Management LLC raised its holdings in shares of HP by 4.7% in the second quarter. Kanawha Capital Management LLC now owns 15,356 shares of the computer maker’s stock valued at $319,000 after purchasing an additional 695 shares during the last quarter. 79.81% of the stock is currently owned by hedge funds and other 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.

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Analyst Recommendations for HP (NYSE:HPQ)

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