Ritholtz Wealth Management Has $2.15 Million Stake in HP Inc. (NYSE:HPQ)

Ritholtz Wealth Management reduced its holdings in HP Inc. (NYSE:HPQ - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,753 shares of the computer maker's stock after selling 19,670 shares during the period. Ritholtz Wealth Management's holdings in HP were worth $2,153,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in HP in the 4th quarter worth about $36,000. OFI Invest Asset Management purchased a new stake in shares of HP during the 4th quarter worth about $37,000. CoreCap Advisors LLC raised its stake in shares of HP by 71.9% during the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock worth $46,000 after purchasing an additional 587 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of HP during the 4th quarter worth about $55,000. Finally, ST Germain D J Co. Inc. raised its stake in shares of HP by 57.2% during the 1st quarter. ST Germain D J Co. Inc. now owns 1,988 shares of the computer maker's stock worth $55,000 after purchasing an additional 723 shares in the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Stock Down 0.6%

NYSE HPQ traded down $0.15 during trading on Thursday, hitting $24.15. The company's stock had a trading volume of 8,658,243 shares, compared to its average volume of 7,846,755. The firm has a 50 day moving average price of $25.81 and a 200 day moving average price of $29.52. The firm has a market cap of $22.68 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 1.96 and a beta of 1.30. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.80.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). The business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 earnings per share. On average, equities analysts expect that HP Inc. will post 3.56 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 1st. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.79%. The ex-dividend date is Wednesday, September 10th. HP's payout ratio is presently 44.79%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HPQ. Bank of America cut their price target on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Wells Fargo & Company cut their price target on HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research note on Thursday, May 29th. Barclays set a $28.00 price target on HP and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. cut their price target on HP from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $29.54.

Insider Transactions at HP

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

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.