Amundi Grows Position in HP Inc. $HPQ

Key Points

• Amundi increased its HP stake by 48.6% in the first quarter, holding 5.19 million shares valued at approximately $99.7 million. Institutional investors and hedge funds collectively own 77.53% of HP.
• Analyst sentiment remains cautious: HP has an average rating of “Reduce” and a consensus price target of $23.33, despite several analysts raising their targets.
• HP reported quarterly earnings and revenue above expectations, with EPS of $0.86 and revenue of $14.41 billion, up 9% year over year. The company also announced a quarterly dividend of $0.30 per share, implying a 4.4% annualized yield.

Amundi grew its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 48.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,187,691 shares of the computer maker's stock after purchasing an additional 1,696,717 shares during the period. Amundi owned approximately 0.57% of HP worth $99,657,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in HP by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 132,094,388 shares of the computer maker's stock valued at $2,943,063,000 after acquiring an additional 2,435,634 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in HP by 8.6% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,981,864 shares of the computer maker's stock worth $45,063,000 after acquiring an additional 157,464 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in HP during the fourth quarter worth about $31,899,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of HP by 5.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,977,716 shares of the computer maker's stock valued at $43,747,000 after purchasing an additional 103,175 shares in the last quarter. Finally, BNP Paribas grew its position in shares of HP by 8,978.0% in the fourth quarter. BNP Paribas now owns 129,725 shares of the computer maker's stock valued at $2,891,000 after purchasing an additional 128,296 shares during the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Citigroup raised their price objective 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. Wells Fargo & Company increased their target price on HP from $18.00 to $20.00 and gave the company an "underweight" rating in a report on Thursday, May 28th. JPMorgan Chase & Co. raised their price target on HP from $22.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, May 28th. Wall Street Zen cut HP from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Finally, The Goldman Sachs Group upped their price objective on HP from $16.00 to $19.00 and gave the company a "sell" rating in a research report on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $23.33.

Insider Activity

In related news, insider David P. Mcquarrie sold 10,524 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $27.98, for a total value of $294,461.52. Following the transaction, the insider directly owned 81,676 shares of the company's stock, valued at approximately $2,285,294.48. This trade represents a 11.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.18% of the stock is owned by corporate insiders.

HP Trading Up 1.7%

Shares of NYSE:HPQ opened at $27.32 on Friday. The firm has a market cap of $24.99 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 4.60 and a beta of 1.19. The stock's 50-day moving average price is $24.69 and its two-hundred day moving average price is $21.41. HP Inc. has a 12-month low of $17.56 and a 12-month high of $29.65.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 EPS for the quarter, beating 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 company had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The company's quarterly 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, research analysts forecast that HP Inc. will post 2.98 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.20 annualized dividend and a dividend yield of 4.4%. HP's payout ratio is currently 44.28%.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.