HP (NYSE:HPQ) Given New $34.00 Price Target at Sanford C. Bernstein

HP (NYSE:HPQ) had its price objective lifted by Sanford C. Bernstein from $32.00 to $34.00 in a research report report published on Friday,Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the computer maker’s stock.

HPQ has been the subject of several other research reports. TD Cowen lifted their price objective on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Loop Capital dropped their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Citigroup decreased their target price on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. HSBC downgraded HP from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, HP has a consensus rating of “Hold” and an average price target of $36.23.

HP Trading Up 2.1 %

Shares of HPQ stock opened at $33.14 on Friday. HP has a 1-year low of $27.42 and a 1-year high of $39.79. The stock has a market cap of $31.08 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.95 and a beta of 1.05. The stock has a 50-day moving average of $35.58 and a 200-day moving average of $35.55.

HP (NYSE:HPQ) last released its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts forecast that HP will post 3.56 earnings per share for the current year.

HP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.2894 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.49%. HP’s dividend payout ratio (DPR) is 40.93%.

Insiders Place Their Bets

In related news, insider Alex Cho sold 10,298 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock valued at $9,670,068 in the last three months. 0.41% of the stock is currently owned by insiders.

Institutional Trading of HP

Hedge funds have recently added to or reduced their stakes in the stock. Chris Bulman Inc purchased a new stake in shares of HP during the 2nd quarter worth approximately $88,000. Principal Financial Group Inc. increased its position in HP by 16.1% in the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after buying an additional 160,268 shares during the last quarter. Tidal Investments LLC raised its stake in shares of HP by 47.5% in the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after buying an additional 47,230 shares during the period. MML Investors Services LLC raised its stake in shares of HP by 35.0% in the third quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after buying an additional 16,207 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of HP by 25.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,007,270 shares of the computer maker’s stock valued at $37,712,000 after buying an additional 202,613 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

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.