HP Inc. (NYSE:HPQ) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. decreased its position in HP Inc. (NYSE:HPQ) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 246,044 shares of the computer maker’s stock after selling 850 shares during the period. Meyer Handelman Co.’s holdings in HP were worth $8,616,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wedmont Private Capital lifted its stake in shares of HP by 21.9% in the 2nd quarter. Wedmont Private Capital now owns 11,285 shares of the computer maker’s stock worth $415,000 after acquiring an additional 2,028 shares during the period. Sequoia Financial Advisors LLC lifted its position in HP by 22.5% in the second quarter. Sequoia Financial Advisors LLC now owns 22,581 shares of the computer maker’s stock worth $791,000 after purchasing an additional 4,143 shares during the period. LVW Advisors LLC boosted its stake in HP by 36.7% during the 2nd quarter. LVW Advisors LLC now owns 23,606 shares of the computer maker’s stock valued at $827,000 after purchasing an additional 6,342 shares in the last quarter. Crestmont Private Wealth LLC acquired a new position in shares of HP during the 2nd quarter valued at $211,000. Finally, Czech National Bank raised its stake in shares of HP by 7.2% in the 2nd quarter. Czech National Bank now owns 164,462 shares of the computer maker’s stock worth $5,759,000 after buying an additional 11,034 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HPQ shares. UBS Group lifted their target price on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Barclays boosted their target price on shares of HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. TD Cowen raised their target price on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. lifted their price target on shares of HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company increased their price objective on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, HP currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.64.

Insider Activity at HP

In other HP news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of HPQ stock traded up $0.98 on Tuesday, reaching $34.76. 6,461,908 shares of the company’s stock traded hands, compared to its average volume of 7,884,607. The company has a market capitalization of $34.01 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The business’s 50 day moving average price is $35.71 and its two-hundred day moving average price is $31.87.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. Research analysts predict that HP Inc. will post 3.45 earnings per share for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be issued a dividend of $0.2756 per share. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 3.17%. HP’s dividend payout ratio is 37.16%.

About HP

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.