Banque Transatlantique SA Invests $22.38 Million in HP Inc. $HPQ

Key Points

• Banque Transatlantique SA invested approximately $22.38 million in HP Inc. by acquiring 874,480 shares in the first quarter of 2023.
• HP recently reported earnings of $0.75 per share for the quarter, matching analysts' expectations, and had revenues of $13.93 billion, exceeding projections.
• The stock's consensus rating is currently a "Hold" with a target price of $29.96, following recent upgrades and downgrades from various brokerages.

Banque Transatlantique SA bought a new position in shares of HP Inc. (NYSE:HPQ - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 874,480 shares of the computer maker's stock, valued at approximately $22,377,000. Banque Transatlantique SA owned about 0.09% of HP as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HPQ. Nuveen LLC acquired a new stake in HP during the 1st quarter worth $179,037,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of HP during the 4th quarter worth $63,612,000. Invesco Ltd. raised its holdings in shares of HP by 19.2% during the 1st quarter. Invesco Ltd. now owns 11,340,629 shares of the computer maker's stock worth $314,022,000 after acquiring an additional 1,829,411 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of HP by 96.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,332,414 shares of the computer maker's stock worth $64,642,000 after acquiring an additional 1,147,342 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of HP by 8.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker's stock worth $303,105,000 after acquiring an additional 707,742 shares during the period. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Trading Up 1.4%

HPQ traded up $0.41 on Friday, hitting $29.33. The company had a trading volume of 8,677,072 shares, compared to its average volume of 8,876,058. The firm has a market cap of $27.42 billion, a P/E ratio of 10.70, a PEG ratio of 2.36 and a beta of 1.29. The company's fifty day moving average price is $26.20 and its 200 day moving average price is $26.60. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.79.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The computer maker reported $0.75 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.75. The company had revenue of $13.93 billion for the quarter, compared to analyst estimates of $13.69 billion. HP had a net margin of 4.83% and a negative return on equity of 262.03%. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. On average, analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a yield of 3.9%. HP's dividend payout ratio is 42.34%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HPQ shares. Citigroup reduced their price target on HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Zacks Research upgraded HP from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. UBS Group lifted their price target on HP from $26.00 to $29.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. KGI Securities assumed coverage on HP in a report on Thursday, May 29th. They set a "neutral" rating on the stock. Finally, TD Cowen reduced their price objective on shares of HP from $38.00 to $28.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Two analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $29.96.

HP Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.