Sowell Financial Services LLC cut its holdings in shares of HP Inc. (NYSE:HPQ – Free Report) by 55.8% during the second quarter, Holdings Channel.com reports. The fund owned 16,016 shares of the computer maker’s stock after selling 20,231 shares during the period. Sowell Financial Services LLC’s holdings in HP were worth $351,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. IHT Wealth Management LLC grew its position in shares of HP by 3.3% during the second quarter. IHT Wealth Management LLC now owns 12,470 shares of the computer maker’s stock worth $305,000 after purchasing an additional 398 shares in the last quarter. Vident Advisory LLC lifted its holdings in HP by 0.6% in the 2nd quarter. Vident Advisory LLC now owns 69,579 shares of the computer maker’s stock worth $1,702,000 after purchasing an additional 444 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in HP by 10.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 5,020 shares of the computer maker’s stock worth $110,000 after purchasing an additional 467 shares during the period. Vise Technologies Inc. boosted its stake in HP by 2.4% in the 3rd quarter. Vise Technologies Inc. now owns 20,531 shares of the computer maker’s stock worth $559,000 after purchasing an additional 477 shares during the period. Finally, Legacy Wealth Asset Management LLC grew its holdings in HP by 0.6% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 80,784 shares of the computer maker’s stock valued at $1,772,000 after buying an additional 491 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
HPQ has been the topic of several recent analyst reports. Wall Street Zen cut shares of HP from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. TD Cowen upped their target price on shares of HP from $20.00 to $26.00 and gave the stock a “hold” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. raised their target price on shares of HP from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Bank of America lifted their price target on shares of HP from $16.00 to $18.00 and gave the company an “underperform” rating in a report on Thursday, May 28th. Finally, Wells Fargo & Company boosted their price target on shares of HP from $18.00 to $20.00 and gave the stock an “underweight” rating in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $23.50.
Insider Activity at HP
In related news, insider David P. Mcquarrie sold 21,048 shares of HP stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.98, for a total value of $631,019.04. Following the completion of the transaction, the insider owned 39,580 shares in the company, valued at approximately $1,186,608.40. This trade represents a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 52,620 shares of company stock valued at $1,478,622. 0.18% of the stock is currently owned by company insiders.
HP Stock Performance
NYSE HPQ opened at $29.19 on Thursday. The stock has a 50 day moving average price of $25.11 and a 200-day moving average price of $21.90. HP Inc. has a one year low of $17.56 and a one year high of $30.87. The company has a market capitalization of $26.69 billion, a P/E ratio of 10.77, a P/E/G ratio of 4.90 and a beta of 1.17.
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 for the quarter, topping the consensus estimate of $0.72 by $0.14. The company had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. HP’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. 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, equities analysts predict that HP Inc. will post 2.98 EPS for the current fiscal year.
HP Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.1%. HP’s payout ratio is 44.28%.
About HP
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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