Assenagon Asset Management S.A. Buys 136,741 Shares of HP Inc. $HPQ

Key Points

• Assenagon Asset Management boosted its HP Inc. stake by 193% in Q1, buying 136,741 additional shares and ending with 207,578 shares worth about $3.99 million.
• HP reported better-than-expected quarterly results, with EPS of $0.86 versus the $0.72 estimate and revenue of $14.41 billion, up 9% year over year.
• The company also declared a quarterly dividend of $0.30 per share, implying a 5.3% annual yield, while analysts currently have a consensus rating of “Reduce” on the stock.

Assenagon Asset Management S.A. lifted its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 193.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 207,578 shares of the computer maker's stock after acquiring an additional 136,741 shares during the quarter. Assenagon Asset Management S.A.'s holdings in HP were worth $3,988,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Garner Asset Management Corp purchased a new position in shares of HP during the fourth quarter valued at $25,000. Flagship Harbor Advisors LLC purchased a new stake in HP in the fourth quarter worth about $26,000. SHP Wealth Management bought a new position in HP during the 4th quarter worth about $26,000. Sound Income Strategies LLC increased its position in HP by 97.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,312 shares of the computer maker's stock valued at $27,000 after purchasing an additional 646 shares during the period. Finally, Union Savings Bank purchased a new position in HP during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Price Performance

Shares of NYSE:HPQ opened at $22.71 on Tuesday. The business's 50-day moving average is $22.96 and its 200 day moving average is $21.15. HP Inc. has a 1 year low of $17.56 and a 1 year high of $29.65. The firm has a market capitalization of $20.77 billion, a P/E ratio of 8.38, a P/E/G ratio of 3.86 and a beta of 1.16.

HP (NYSE:HPQ - Get Free Report) last issued 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. HP had a negative return on equity of 581.36% and a net margin of 4.45%.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 company earned $0.71 earnings per share. The company's quarterly revenue was up 9.0% on a year-over-year basis. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. On average, analysts expect that HP Inc. will post 2.98 EPS for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 5.3%. The ex-dividend date is Wednesday, September 9th. HP's payout ratio is presently 44.28%.

Insiders Place Their Bets

In other news, insider David P. Mcquarrie sold 10,524 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $24.68, for a total value of $259,732.32. Following the transaction, the insider directly owned 92,200 shares of the company's stock, valued at approximately $2,275,496. This represents a 10.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of HP from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday, May 28th. Barclays lifted their price objective on shares of HP from $16.00 to $19.00 and gave the company an "underweight" rating in a report on Thursday, May 28th. Zacks Research raised shares of HP from a "strong sell" rating to a "hold" rating in a research note on Monday, April 6th. Wells Fargo & Company upped their target price on HP from $18.00 to $20.00 and gave the stock an "underweight" rating in a report on Thursday, May 28th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of HP in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $23.33.

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.