Bank of America Corp DE Makes New $86.36 Million Investment in HP Inc. $HPQ

Key Points

• Bank of America acquired 3.94 million HP shares during the second quarter, valued at approximately $86.4 million and representing about 0.43% of the company. Institutional investors and hedge funds collectively own 77.53% of HP.
• HP reported stronger-than-expected quarterly results, with adjusted EPS of $0.83 versus the $0.66 consensus and revenue of $15.68 billion, up 12.5% year over year.
• Despite HP shares trading near their 12-month high, analyst sentiment remains cautious: the stock has a consensus “Hold” rating and a $25.77 average price target, below its reported $34.45 share price.

Bank of America Corp DE acquired a new stake in shares of HP Inc. (NYSE:HPQ - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,936,070 shares of the computer maker's stock, valued at approximately $86,357,000. Bank of America Corp DE owned about 0.43% of HP as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SHP Wealth Management bought a new stake in HP during the fourth quarter worth approximately $26,000. Union Savings Bank bought a new position in shares of HP in the fourth quarter valued at approximately $28,000. Aberdeen Wealth Management LLC acquired a new stake in shares of HP in the second quarter worth $29,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of HP in the fourth quarter worth $32,000. Finally, West Paces Advisors Inc. bought a new stake in shares of HP during the 2nd quarter worth $34,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Down 0.6%

Shares of NYSE HPQ opened at $34.45 on Friday. The company's fifty day moving average is $29.33 and its 200-day moving average is $24.22. The stock has a market cap of $31.06 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.80 and a beta of 1.18. HP Inc. has a twelve month low of $17.56 and a twelve month high of $36.22.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The computer maker reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The business had revenue of $15.68 billion during the quarter, compared to analysts' expectations of $14.44 billion. HP had a net margin of 4.14% and a negative return on equity of 947.78%. The firm's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. On average, research analysts anticipate that HP Inc. will post 3.23 EPS for the current fiscal year.

Insider Activity at HP

In other news, insider David McQuarrie sold 21,048 shares of HP stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.98, for a total transaction of $631,019.04. Following the transaction, the insider owned 39,580 shares in the company, valued at $1,186,608.40. The trade was a 34.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,096 shares of company stock worth $1,218,890 over the last quarter. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HPQ shares. Bank of America reiterated an "underperform" rating on shares of HP in a research note on Thursday, August 27th. Citigroup boosted their target price 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. Royal Bank Of Canada initiated coverage on HP in a research report on Thursday, September 10th. They issued a "sector perform" rating and a $33.00 price target on the stock. Barclays lifted their price objective on HP from $19.00 to $23.00 and gave the stock an "underweight" rating in a research note on Friday, August 28th. Finally, The Goldman Sachs Group boosted their price objective on HP from $19.00 to $21.00 and gave the stock a "sell" rating in a research report on Wednesday, August 12th. Three 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 company. According to MarketBeat.com, HP has a consensus rating of "Hold" and a consensus price target of $25.77.

HP Profile

HP Inc is a global technology company that develops and sells personal computing and printing products and related services. Its Personal Systems business offers laptops, desktop computers, workstations, gaming PCs, monitors, peripherals and accessories for consumers, businesses and public-sector organizations.

Through its Printing business, HP provides home and office printers, commercial printing systems, supplies such as ink and toner, and managed print services. The company also offers software and solutions designed to support device management, security, productivity and digital workflows.

HP serves customers in markets around the world through direct sales, online channels, retailers, distributors and business partners.

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