Assetmark Inc. Has $804,000 Stock Position in HP Inc. $HPQ

Assetmark Inc. lowered its position in HP Inc. (NYSE:HPQ - Free Report) by 68.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,857 shares of the computer maker's stock after selling 89,048 shares during the period. Assetmark Inc.'s holdings in HP were worth $804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Baird Financial Group Inc. grew its stake in HP by 13.1% in the second quarter. Baird Financial Group Inc. now owns 114,169 shares of the computer maker's stock valued at $2,793,000 after acquiring an additional 13,265 shares during the period. Gamco Investors INC. ET AL raised its position in shares of HP by 2.7% during the second quarter. Gamco Investors INC. ET AL now owns 21,230 shares of the computer maker's stock worth $519,000 after purchasing an additional 551 shares during the period. Daiwa Securities Group Inc. raised its position in shares of HP by 6.4% during the second quarter. Daiwa Securities Group Inc. now owns 145,337 shares of the computer maker's stock worth $3,555,000 after purchasing an additional 8,779 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of HP by 70.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 731,574 shares of the computer maker's stock valued at $17,894,000 after purchasing an additional 302,578 shares in the last quarter. Finally, HUB Investment Partners LLC bought a new position in shares of HP during the 2nd quarter valued at about $233,000. 77.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

HP Stock Performance

Shares of HP stock opened at $25.82 on Friday. The firm has a market cap of $23.61 billion, a PE ratio of 9.53, a P/E/G ratio of 4.34 and a beta of 1.19. The business's 50 day simple moving average is $24.14 and its 200 day simple moving average is $21.20. HP Inc. has a 52-week low of $17.56 and a 52-week high of $29.65.

HP (NYSE:HPQ - Get Free Report) last released 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 during 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 EPS. 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 research analysts predict that HP Inc. will post 2.98 EPS for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, September 9th. This represents a $1.20 annualized dividend and a yield of 4.6%. HP's dividend payout ratio is presently 44.28%.

Analyst Upgrades and Downgrades

HPQ has been the subject of a number of research reports. Bank of America increased their target price on HP from $16.00 to $18.00 and gave the stock an "underperform" rating in a research note on Thursday, May 28th. Wells Fargo & Company lifted their price target on shares of HP from $18.00 to $20.00 and gave the company an "underweight" rating in a research note on Thursday, May 28th. Morgan Stanley upped their price target on shares of HP from $17.00 to $19.00 and gave the company an "underweight" rating in a report on Thursday, May 28th. TD Cowen increased their price objective on shares of HP from $20.00 to $26.00 and gave the stock a "hold" rating in a research report on Thursday, May 28th. Finally, UBS Group increased their price objective on shares of HP from $20.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus 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.

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.