Brandywine Global Investment Management LLC Sells 35,630 Shares of HP Inc. $HPQ

Key Points

• Brandywine Global Investment Management LLC has reduced its holdings in HP Inc. by 4.4%, selling 35,630 shares and holding 776,236 shares worth approximately $21.5 million as of the latest SEC filing.
• HP recently declared a quarterly dividend of $0.2894 per share, yielding 4.3%, with shareholders of record to be paid on October 1st.
• After missing earnings expectations, HP's stock has seen analysts adjusting price targets, with the current average target at $29.54 and a general "Hold" rating from analysts.

Brandywine Global Investment Management LLC trimmed its holdings in HP Inc. (NYSE:HPQ - Free Report) by 4.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 776,236 shares of the computer maker's stock after selling 35,630 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.08% of HP worth $21,494,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in HP by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,919,661 shares of the computer maker's stock worth $136,224,000 after buying an additional 102,017 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in HP in the 1st quarter worth about $449,000. Kovitz Investment Group Partners LLC increased its holdings in HP by 1.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 119,683 shares of the computer maker's stock worth $3,314,000 after buying an additional 1,602 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its position in HP by 13.5% in the first quarter. Cookson Peirce & Co. Inc. now owns 28,876 shares of the computer maker's stock worth $800,000 after purchasing an additional 3,430 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its position in HP by 115.8% in the first quarter. Vestmark Advisory Solutions Inc. now owns 30,474 shares of the computer maker's stock worth $844,000 after purchasing an additional 16,355 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HPQ. Evercore ISI dropped their target price on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. dropped their target price on HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. TD Cowen dropped their target price on HP from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. Barclays set a $28.00 target price on HP and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Finally, Dbs Bank cut HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $29.54.

HP Price Performance

Shares of HPQ stock traded down $0.5370 during trading hours on Wednesday, reaching $26.4630. 3,538,237 shares of the company traded hands, compared to its average volume of 8,220,052. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.79. The company has a market cap of $24.86 billion, a P/E ratio of 10.24, a P/E/G ratio of 2.17 and a beta of 1.29. The firm has a 50-day moving average price of $25.27 and a 200 day moving average price of $27.06.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The company had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. HP has set its FY 2025 guidance at 3.000-3.300 EPS. Q3 2025 guidance at 0.680-0.800 EPS. Sell-side analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio (DPR) is 44.79%.

About HP

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.