Assenagon Asset Management S.A. Has $1.23 Million Position in HP Inc. $HPQ

Key Points

• Assenagon Asset Management cut its HP stake by 73% in the second quarter, selling 151,603 shares and retaining 55,975 shares valued at approximately $1.23 million. Institutional investors overall own 77.53% of HP.
• Analyst sentiment remains cautious: HP has a consensus rating of “Reduce” and an average price target of $23.50, despite several brokerages raising their targets.
• HP reported stronger-than-expected quarterly results, with $0.86 in adjusted EPS and $14.41 billion in revenue, while declaring a quarterly dividend of $0.30 per share, equivalent to a 4.0% yield.

Assenagon Asset Management S.A. lessened its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 73.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,975 shares of the computer maker's stock after selling 151,603 shares during the period. Assenagon Asset Management S.A.'s holdings in HP were worth $1,228,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in HP by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 132,094,388 shares of the computer maker's stock worth $2,943,063,000 after purchasing an additional 2,435,634 shares during the period. State Street Corp increased its stake in HP by 5.3% in the third quarter. State Street Corp now owns 52,703,639 shares of the computer maker's stock valued at $1,450,245,000 after acquiring an additional 2,651,623 shares during the last quarter. Geode Capital Management LLC increased its stake in HP by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 27,313,924 shares of the computer maker's stock valued at $607,373,000 after acquiring an additional 274,033 shares during the last quarter. Invesco Ltd. raised its position in HP by 31.7% during the fourth quarter. Invesco Ltd. now owns 15,236,428 shares of the computer maker's stock valued at $339,468,000 after purchasing an additional 3,671,511 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in HP by 50.2% during the fourth quarter. AQR Capital Management LLC now owns 13,582,142 shares of the computer maker's stock worth $302,610,000 after purchasing an additional 4,542,339 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HPQ. Wells Fargo & Company lifted their price target on HP from $18.00 to $20.00 and gave the company an "underweight" rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. increased their target price on shares of HP from $22.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, May 28th. Citigroup upped their price objective on shares of HP from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, May 28th. TD Cowen increased their price objective on shares of HP from $20.00 to $26.00 and gave the company a "hold" rating in a research note on Thursday, May 28th. Finally, Weiss Ratings upgraded shares of HP from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $23.50.

HP Stock Down 3.8%

HPQ opened at $30.13 on Friday. HP Inc. has a twelve month low of $17.56 and a twelve month high of $32.19. The company has a fifty day moving average of $25.30 and a 200-day moving average of $22.04. The stock has a market cap of $27.55 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 5.28 and a beta of 1.17.

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 analysts' consensus estimates of $0.72 by $0.14. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The firm had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same period last year, the business posted $0.71 EPS. The business's 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. Sell-side analysts anticipate that HP Inc. will post 2.98 EPS for the current fiscal year.

HP Announces Dividend

The business 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 $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, September 9th. HP's payout ratio is 44.28%.

Insider Activity

In other news, insider David P. Mcquarrie sold 21,048 shares of the firm's 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 sale, the insider directly owned 39,580 shares in the company, valued at $1,186,608.40. This trade represents a 34.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 52,620 shares of company stock worth $1,478,622. 0.18% of the stock is owned by corporate insiders.

HP 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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