Bank of Nova Scotia Purchases 543,870 Shares of HP Inc. $HPQ

Bank of Nova Scotia lifted its holdings in HP Inc. (NYSE:HPQ - Free Report) by 33.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,183,747 shares of the computer maker's stock after purchasing an additional 543,870 shares during the quarter. Bank of Nova Scotia owned 0.24% of HP worth $41,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of HPQ. Sei Investments Co. boosted its position in shares of HP by 57.5% in the first quarter. Sei Investments Co. now owns 1,484,835 shares of the computer maker's stock worth $28,524,000 after purchasing an additional 541,792 shares during the period. Lido Advisors LLC grew its holdings in shares of HP by 6.6% in the first quarter. Lido Advisors LLC now owns 63,207 shares of the computer maker's stock valued at $1,222,000 after purchasing an additional 3,910 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of HP by 14.1% in the 1st quarter. Cetera Investment Advisers now owns 214,871 shares of the computer maker's stock valued at $4,128,000 after acquiring an additional 26,565 shares during the last quarter. Arvest Bank Trust Division raised its holdings in HP by 321.0% during the 1st quarter. Arvest Bank Trust Division now owns 92,832 shares of the computer maker's stock valued at $1,783,000 after buying an additional 70,780 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its position in HP by 48.5% in the first quarter. First Citizens Bank & Trust Co. now owns 91,874 shares of the computer maker's stock worth $1,765,000 after buying an additional 30,007 shares during the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Up 5.3%

HP stock opened at $25.82 on Friday. The stock has a 50-day moving average price of $24.14 and a 200 day moving average price of $21.20. The company has a market capitalization of $23.61 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 4.14 and a beta of 1.19. 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 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. The company had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. HP's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $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. Research analysts anticipate that HP Inc. will post 2.98 EPS for the current fiscal year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.20 dividend on an annualized basis and a yield of 4.6%. HP's payout ratio is presently 44.28%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HPQ shares. Bank of America increased their target price on shares of HP from $16.00 to $18.00 and gave the company an "underperform" rating in a research note on Thursday, May 28th. The Goldman Sachs Group raised their price target on HP from $16.00 to $19.00 and gave the company a "sell" rating in a research note on Tuesday, June 2nd. Wall Street Zen downgraded HP from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. JPMorgan Chase & Co. upped their price target on shares of HP from $22.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, May 28th. Finally, TD Cowen upped their target price on HP from $20.00 to $26.00 and gave the stock a "hold" rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $23.33.

Insider Buying and Selling

In other HP news, insider David P. Mcquarrie sold 10,524 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $24.68, for a total transaction of $259,732.32. Following the completion of the transaction, the insider directly owned 92,200 shares in the company, valued at approximately $2,275,496. This represents a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 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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