755,819 Shares in HP Inc. $HPQ Bought by Bank of Nova Scotia

Bank of Nova Scotia bought 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 bought 755,819 shares of the computer maker's stock, valued at approximately $16,583,000. Bank of Nova Scotia owned 0.08% of HP at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HPQ. BlackRock Inc. acquired a new position in shares of HP in the second quarter valued at approximately $2,357,757,000. DNB Asset Management AS raised its stake in shares of HP by 242.2% in the 4th quarter. DNB Asset Management AS now owns 10,594,630 shares of the computer maker's stock valued at $236,048,000 after purchasing an additional 7,498,202 shares during the period. Norges Bank acquired a new stake in shares of HP in the 4th quarter valued at about $149,309,000. Deutsche Bank AG bought a new stake in shares of HP in the second quarter valued at about $140,172,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of HP by 186.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 8,378,723 shares of the computer maker's stock worth $228,153,000 after buying an additional 5,449,691 shares during the period. 77.53% of the stock is currently owned by institutional investors.

HP Stock Performance

Shares of NYSE:HPQ opened at $28.57 on Tuesday. HP Inc. has a 52-week low of $17.56 and a 52-week high of $32.19. The company has a market capitalization of $26.13 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 5.01 and a beta of 1.17. The company has a 50-day simple moving average of $25.86 and a 200 day simple moving average of $22.49.

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 analysts' consensus estimates of $0.72 by $0.14. The firm had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The business's revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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 forecast that HP Inc. will post 2.98 earnings per share for the current year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, September 9th. HP's dividend payout ratio is 44.28%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group raised their price target on shares of HP from $20.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, May 28th. Morgan Stanley decreased their target price on shares of HP from $19.00 to $17.00 and set an "underweight" rating for the company in a research report on Monday. Citigroup lifted their price target on shares of HP from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, May 28th. The Goldman Sachs Group boosted their price target 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. Finally, Evercore set a $32.00 target price on HP in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, HP has an average rating of "Reduce" and a consensus price target of $24.17.

Insider Buying and Selling

In other HP news, insider David P. Mcquarrie sold 21,048 shares of HP stock in a transaction on Friday, August 7th. The shares were sold at an average price of $29.98, for a total transaction of $631,019.04. Following the completion of the transaction, the insider directly owned 39,580 shares of the company's stock, valued at $1,186,608.40. The trade was a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,620 shares of company stock worth $1,478,622 over the last three months. Insiders own 0.18% of the company's stock.

HP Company Profile

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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