Alliancebernstein L.P. Lowers Holdings in HP Inc. (NYSE:HPQ)

Alliancebernstein L.P. cut its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,364,670 shares of the computer maker's stock after selling 139,528 shares during the period. Alliancebernstein L.P. owned about 0.15% of HP worth $44,529,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. TIAA Trust National Association raised its stake in HP by 1.8% in the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker's stock valued at $548,000 after acquiring an additional 302 shares during the period. HBK Sorce Advisory LLC raised its stake in HP by 2.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker's stock valued at $374,000 after acquiring an additional 306 shares during the period. Auxano Advisors LLC raised its stake in HP by 3.7% in the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker's stock valued at $282,000 after acquiring an additional 310 shares during the period. Wedmont Private Capital raised its stake in HP by 2.6% in the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker's stock valued at $420,000 after acquiring an additional 316 shares during the period. Finally, Pinnacle Financial Partners Inc raised its stake in HP by 2.7% in the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker's stock valued at $400,000 after acquiring an additional 319 shares during the period. 77.53% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

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

HP Stock Performance

HPQ stock traded down $1.18 on Thursday, reaching $23.10. The company's stock had a trading volume of 3,299,686 shares, compared to its average volume of 7,753,402. The business has a fifty day simple moving average of $29.81 and a two-hundred day simple moving average of $33.31. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80. The firm has a market cap of $21.78 billion, a PE ratio of 8.24, a PEG ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. As a group, research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 5.01%. HP's payout ratio is 41.37%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on HP from $30.00 to $35.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Morgan Stanley reduced their target price on HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. StockNews.com lowered HP from a "buy" rating to a "hold" rating in a report on Tuesday. Barclays boosted their price objective on HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Finally, Sanford C. Bernstein upped their target price on HP from $32.00 to $34.00 and gave the stock a "market perform" rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, HP has an average rating of "Hold" and a consensus price target of $36.14.

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.