Barnett & Company Inc. Sells 57,625 Shares of HP Inc. $HPQ

Key Points

• Barnett & Company Inc. slashed its HP Inc. stake by 84.9% in the first quarter, selling 57,625 shares and leaving it with 10,250 shares worth about $197,000.
• HP’s latest quarterly results beat Wall Street expectations, with EPS of $0.86 versus $0.72 expected and revenue of $14.41 billion, up 9% year over year.
• The company also declared a quarterly dividend of $0.30 per share, implying a 5.0% annualized yield, while analysts currently rate the stock a consensus “Reduce” with an average price target of $23.33.

Barnett & Company Inc. cut its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 84.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,250 shares of the computer maker's stock after selling 57,625 shares during the quarter. Barnett & Company Inc.'s holdings in HP were worth $197,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. DNB Asset Management AS raised its holdings in HP by 242.2% during the fourth quarter. DNB Asset Management AS now owns 10,594,630 shares of the computer maker's stock worth $236,048,000 after acquiring an additional 7,498,202 shares in the last quarter. Norges Bank bought a new position in HP in the fourth quarter valued at approximately $149,309,000. Arrowstreet Capital Limited Partnership grew its stake in HP by 186.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 8,378,723 shares of the computer maker's stock valued at $228,153,000 after purchasing an additional 5,449,691 shares in the last quarter. AQR Capital Management LLC increased its position in shares of HP by 143.4% during the 3rd quarter. AQR Capital Management LLC now owns 9,039,803 shares of the computer maker's stock worth $244,527,000 after purchasing an additional 5,325,260 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of HP by 626.6% during the 4th quarter. Renaissance Technologies LLC now owns 4,948,700 shares of the computer maker's stock worth $110,257,000 after purchasing an additional 4,267,600 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on HPQ shares. Bank of America increased their price objective on HP from $16.00 to $18.00 and gave the company an "underperform" rating in a report on Thursday, May 28th. Barclays boosted their target price on shares of HP from $16.00 to $19.00 and gave the stock an "underweight" rating in a report on Thursday, May 28th. The Goldman Sachs Group increased their price target on shares of HP from $16.00 to $19.00 and gave the company a "sell" rating in a research note on Tuesday, June 2nd. Wells Fargo & Company lifted their price objective on shares of HP from $18.00 to $20.00 and gave the company an "underweight" rating in a research report on Thursday, May 28th. Finally, TD Cowen boosted their price objective on shares of HP from $20.00 to $26.00 and gave the stock a "hold" rating in a research note on Thursday, May 28th. 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 stock. According to data from MarketBeat.com, HP presently has a consensus rating of "Reduce" and an average target price of $23.33.

HP Trading Up 0.4%

HPQ stock opened at $24.23 on Friday. The firm has a market capitalization of $22.16 billion, a PE ratio of 8.94, a PEG ratio of 4.07 and a beta of 1.19. HP Inc. has a 1-year low of $17.56 and a 1-year high of $29.65. The business's 50 day simple moving average is $23.46 and its 200 day simple moving average is $21.07.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.14. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The business had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter last year, the firm posted $0.71 EPS. The company's quarterly revenue was up 9.0% on a year-over-year basis. 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, sell-side analysts predict that HP Inc. will post 2.98 EPS for the current fiscal year.

HP Announces Dividend

The business 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 of this dividend is Wednesday, September 9th. This represents a $1.20 annualized dividend and a dividend yield of 5.0%. HP's payout ratio is presently 44.28%.

Insider Buying and Selling

In related 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 in the company, valued at approximately $2,275,496. This represents a 10.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.18% of the company's stock.

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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