Richard Bernstein Advisors LLC Makes New Investment in HP Inc. (NYSE:HPQ)

Richard Bernstein Advisors LLC purchased a new stake in shares of HP Inc. (NYSE:HPQ) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 74,112 shares of the computer maker’s stock, valued at approximately $2,418,000.

A number of other large investors have also recently made changes to their positions in HPQ. Ashton Thomas Securities LLC bought a new position in HP during the third quarter valued at approximately $25,000. Synergy Asset Management LLC bought a new position in shares of HP during the 4th quarter valued at $26,000. Stonebridge Financial Group LLC bought a new position in shares of HP during the 4th quarter valued at $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of HP in the 3rd quarter worth $40,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in HP during the third quarter valued at $44,000. 77.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at HP

In other news, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,035 shares of company stock worth $9,670,068. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the topic of several research reports. JPMorgan Chase & Co. dropped their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein boosted their target price on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. TD Cowen increased their price target on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Citigroup cut their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.68.

HP Stock Down 1.7 %

NYSE HPQ opened at $34.08 on Wednesday. The business has a 50-day moving average price of $33.11 and a 200-day moving average price of $34.88. The firm has a market cap of $31.96 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) 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 analyst estimates of $13.99 billion. During the same period last year, the firm posted $0.90 EPS. The company’s revenue was up 1.7% on a year-over-year basis. Research analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 3.40%. HP’s payout ratio is 40.93%.

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.