Salomon & Ludwin LLC Has $87,000 Holdings in HP Inc. (NYSE:HPQ)

Salomon & Ludwin LLC decreased its holdings in shares of HP Inc. (NYSE:HPQ) by 25.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,476 shares of the computer maker’s stock after selling 842 shares during the quarter. Salomon & Ludwin LLC’s holdings in HP were worth $87,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Sawyer & Company Inc raised its stake in shares of HP by 900.0% during the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after purchasing an additional 900 shares in the last quarter. Rise Advisors LLC raised its stake in HP by 377.9% in the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 839 shares during the period. Triad Wealth Partners LLC bought a new position in shares of HP in the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HP in the 2nd quarter valued at about $34,000. Finally, Sunbelt Securities Inc. lifted its holdings in HP by 136.8% during the 1st quarter. Sunbelt Securities Inc. now owns 1,769 shares of the computer maker’s stock worth $53,000 after purchasing an additional 1,022 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HPQ. UBS Group increased their target price on shares of HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Bank of America raised their price objective on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. upped their target price on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday. Citigroup raised their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, TD Cowen upped their price objective on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, HP presently has a consensus rating of “Hold” and a consensus target price of $35.00.

Insiders Place Their Bets

In related news, insider Alex Cho sold 173,137 shares of the business’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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

HP Trading Down 0.6 %

HPQ stock traded down $0.22 during trading on Monday, hitting $35.44. The company had a trading volume of 2,493,639 shares, compared to its average volume of 7,760,084. HP Inc. has a one year low of $25.22 and a one year high of $39.52. The business has a 50-day moving average of $35.56 and a 200-day moving average of $32.24. The stock has a market cap of $34.68 billion, a PE ratio of 12.05, a PEG ratio of 2.24 and a beta of 1.09.

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

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be issued a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s payout ratio is 37.16%.

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.