I'm LongbridgeAI, I can summarize articles.Wealthfront Advisers LLC purchased a new stake in HP Inc. (HPQ) during the second quarter, acquiring 300,378 shares valued at approximately $6.59 million, according to its SEC Form 13F filing. This move adds to recent activity by other institutional investors like Garner Asset Management and SHP Wealth Management, who also established positions in HP stock. Meanwhile, insider David P. Mcquarrie sold shares under a pre-arranged plan. Analysts maintain a consensus 'Reduce' rating with an average price target of $23.50.
Wealthfront Advisers LLC purchased a new stake in HP Inc. (NYSE:HPQ - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 300,378 shares of the computer maker's stock, valued at approximately $6,590,000.
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Several other hedge funds have also bought and sold shares of the stock. Garner Asset Management Corp acquired a new position in shares of HP in the 4th quarter valued at $25,000. SHP Wealth Management acquired a new position in shares of HP in the fourth quarter worth about $26,000. Union Savings Bank purchased a new stake in shares of HP during the 4th quarter worth about $28,000. DV Equities LLC purchased a new position in shares of HP in the 4th quarter valued at about $29,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in HP in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 77.53% of the company's stock.
Insider Buying and Selling at HP
In related news, insider David P. Mcquarrie sold 21,048 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.98, for a total transaction of $631,019.04. Following the completion of the sale, the insider directly owned 39,580 shares of the company's stock, valued at approximately $1,186,608.40. This trade represents a 34.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 52,620 shares of company stock worth $1,478,622. Corporate insiders own 0.18% of the company's stock.
Wall Street Analyst Weigh In
- HP Inc. Stock Is Historically Cheap, but Can AI Change the Story?
HPQ has been the subject of several research analyst reports. Barclays upped their target price on HP from $16.00 to $19.00 and gave the stock an "underweight" rating in a research note on Thursday, May 28th. The Goldman Sachs Group upped their price objective on shares of HP from $19.00 to $21.00 and gave the stock a "sell" rating in a research report on Wednesday, August 12th. Morgan Stanley increased their price objective on shares of HP from $17.00 to $19.00 and gave the company an "underweight" rating in a report on Thursday, May 28th. Citigroup boosted their target price on shares of HP from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, May 28th. Finally, Wells Fargo & Company upped their price target on shares of HP from $18.00 to $20.00 and gave the stock an "underweight" rating in a research report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $23.50.
View Our Latest Research Report on HPQ
HP Stock Performance
- HP Is Positioning Itself for the AI Gold Rush's Second Act
NYSE:HPQ opened at $29.99 on Thursday. HP Inc. has a one year low of $17.56 and a one year high of $32.19. The stock has a market cap of $27.43 billion, a PE ratio of 11.07, a P/E/G ratio of 5.05 and a beta of 1.17. The stock has a 50 day moving average price of $25.59 and a 200 day moving average price of $22.28.
HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.14. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The business had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter last year, the firm earned $0.71 EPS. The business's revenue was up 9.0% compared to the same quarter last year. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. As a group, analysts predict that HP Inc. will post 2.98 earnings per share for the current fiscal year.
HP Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, September 9th. HP's dividend payout ratio is 44.28%.
HP Company Profile
(Free Report)HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.
Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.
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Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc. (NYSE:HPQ - Free Report).
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