Bank of New York Mellon Corp Trims Stake in HP Inc. $HPQ

Key Points

• Bank of New York Mellon reduced its HP Inc. stake by 2.4% in the first quarter, selling 127,466 shares and ending with about 5.08 million shares valued at roughly $97.7 million.
• HP reported stronger-than-expected results for its latest quarter, with EPS of $0.86 versus $0.72 expected and revenue of $14.41 billion versus $13.99 billion forecast, while also raising its FY 2026 guidance.
• HP continues to return cash to shareholders through a quarterly dividend of $0.30 per share, equal to a 4.9% yield, even as analysts maintain a cautious overall view with a consensus rating of “Reduce.”

Bank of New York Mellon Corp cut its stake in HP Inc. (NYSE:HPQ - Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,083,879 shares of the computer maker's stock after selling 127,466 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.56% of HP worth $97,661,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of HPQ. Garner Asset Management Corp purchased a new stake in shares of HP during the 4th quarter worth about $25,000. Flagship Harbor Advisors LLC purchased a new position in HP during the fourth quarter worth approximately $26,000. SHP Wealth Management acquired a new stake in HP in the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC grew its holdings in HP by 97.0% in the fourth 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 shares of HP during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Trading Down 2.4%

Shares of HPQ stock opened at $24.25 on Tuesday. HP Inc. has a twelve month low of $17.56 and a twelve month high of $29.65. The company's 50-day moving average price is $23.81 and its 200-day moving average price is $21.11. The stock has a market cap of $22.18 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 4.19 and a beta of 1.19.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.14. The firm had revenue of $14.41 billion during the quarter, compared to analysts' expectations of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. HP's revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.71 earnings per share. 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 declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Wednesday, September 9th. HP's dividend payout ratio is 44.28%.

Analyst Ratings Changes

Several equities research analysts recently commented on HPQ shares. The Goldman Sachs Group boosted their price target on shares of HP from $16.00 to $19.00 and gave the stock a "sell" rating in a report on Tuesday, June 2nd. Bank of America increased their price objective on shares of HP from $16.00 to $18.00 and gave the company an "underperform" rating in a report on Thursday, May 28th. Weiss Ratings upgraded shares of HP from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 6th. UBS Group raised their price target on shares of HP from $20.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, May 28th. Finally, Wall Street Zen lowered HP from a "buy" rating to a "hold" rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, HP has a consensus rating of "Reduce" and a consensus price target of $23.33.

Insider Activity at HP

In other HP news, insider David P. Mcquarrie sold 10,524 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $24.68, for a total value of $259,732.32. Following the transaction, the insider owned 92,200 shares of the company's stock, valued at $2,275,496. This represents a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.18% of the stock is currently owned by company insiders.

About HP

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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