Meyer Handelman Co. Sells 2,509 Shares of HP Inc. (NYSE:HPQ)

Meyer Handelman Co. lessened its stake in HP Inc. (NYSE:HPQ) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 223,755 shares of the computer maker’s stock after selling 2,509 shares during the period. Meyer Handelman Co.’s holdings in HP were worth $7,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC purchased a new position in shares of HP in the 3rd quarter worth approximately $25,000. Wolff Wiese Magana LLC boosted its stake in HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after acquiring an additional 518 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in HP in the third quarter worth $37,000. Itau Unibanco Holding S.A. acquired a new position in shares of HP during the third quarter worth $40,000. Finally, DecisionPoint Financial LLC purchased a new stake in shares of HP during the 2nd quarter valued at $43,000. 77.53% of the stock is currently owned by institutional investors.

HP Price Performance

NYSE HPQ opened at $32.66 on Wednesday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The company has a market capitalization of $30.63 billion, a PE ratio of 11.62, a P/E/G ratio of 2.95 and a beta of 1.05. The company has a fifty day moving average of $35.05 and a 200 day moving average of $35.40.

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

HP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.2894 per share. This is a boost from HP’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.54%. HP’s dividend payout ratio (DPR) is presently 40.93%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HPQ shares. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Barclays upped their price objective on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Sanford C. Bernstein lifted their target price on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, HP presently has a consensus rating of “Hold” and an average price target of $36.23.

Insider Activity

In related news, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $353,427.36. Following the transaction, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. This represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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 corporate insiders.

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.