Ameriprise Financial Inc. Buys 1,147,342 Shares of HP Inc. $HPQ

Key Points

• Ameriprise Financial Inc. increased its stake in HP Inc. by 96.8%, purchasing over 1.1 million shares to own a total of 2.3 million shares valued at approximately $64.6 million.
• Wall Street analysts have issued mixed ratings for HP, with a consensus rating of "Hold" and a price target average of $29.54, after several price targets were lowered.
• HP recently announced a quarterly dividend of $0.2894 per share, representing an annual yield of 4.3%, further solidifying its commitment to returning value to shareholders.

Ameriprise Financial Inc. boosted its position in HP Inc. (NYSE:HPQ - Free Report) by 96.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,332,414 shares of the computer maker's stock after purchasing an additional 1,147,342 shares during the period. Ameriprise Financial Inc. owned 0.25% of HP worth $64,642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HPQ. MML Investors Services LLC increased its stake in shares of HP by 3.9% in the fourth quarter. MML Investors Services LLC now owns 64,933 shares of the computer maker's stock valued at $2,119,000 after buying an additional 2,410 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of HP by 5.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 14,228 shares of the computer maker's stock valued at $464,000 after buying an additional 681 shares during the period. Boothbay Fund Management LLC acquired a new stake in shares of HP in the fourth quarter valued at about $369,000. Quarry LP grew its stake in HP by 182.6% during the fourth quarter. Quarry LP now owns 4,146 shares of the computer maker's stock worth $135,000 after purchasing an additional 2,679 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in HP during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HPQ shares. KGI Securities started coverage on HP in a research note on Thursday, May 29th. They set a "neutral" rating for the company. Wells Fargo & Company cut their price target on HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a report on Thursday, May 29th. Wall Street Zen upgraded HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. UBS Group increased their price target on HP from $26.00 to $29.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Morgan Stanley cut their price target on HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $29.96.

HP Price Performance

Shares of HPQ traded up $0.19 during mid-day trading on Friday, hitting $28.54. The stock had a trading volume of 12,745,588 shares, compared to its average volume of 8,432,403. The firm has a market cap of $26.81 billion, a P/E ratio of 10.42, a PEG ratio of 2.28 and a beta of 1.29. The business has a fifty day moving average price of $25.76 and a 200-day moving average price of $26.82. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Wednesday, August 27th. The computer maker reported $0.75 earnings per share for the quarter, hitting analysts' consensus estimates of $0.75. HP had a negative return on equity of 262.03% and a net margin of 4.83%.The business had revenue of $13.93 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period in the prior year, the company earned $0.83 EPS. The company's quarterly revenue was up 3.1% compared to the same quarter last year. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. As a group, research analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.1%. HP's dividend payout ratio is currently 44.79%.

About HP

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.