Dodge & Cox Sells 260,167 Shares of HP Inc. $HPQ

Key Points

• Dodge & Cox sold 260,167 shares of HP (a 0.7% reduction) in the quarter, leaving it with 34,683,331 shares—about 3.71% of the company— valued at roughly $944.4 million.
• Other institutions moved significantly too: Vanguard added about 3.12 million shares, Arrowstreet increased its stake by 186.1%, and institutional investors now own 77.53% of HP.
• Analysts are mixed-to-bearish with a MarketBeat consensus rating of Reduce and a $21.58 target; HP trades near $18.94 and recently declared a $0.30 quarterly dividend (about a 6.3% yield).

Dodge & Cox lessened its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,683,331 shares of the computer maker's stock after selling 260,167 shares during the quarter. Dodge & Cox owned approximately 3.71% of HP worth $944,427,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of HP by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 129,658,754 shares of the computer maker's stock worth $3,530,608,000 after acquiring an additional 3,122,436 shares during the period. Geode Capital Management LLC raised its stake in HP by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 26,187,203 shares of the computer maker's stock valued at $638,720,000 after acquiring an additional 424,544 shares during the period. Invesco Ltd. lifted its holdings in HP by 15.9% during the 2nd quarter. Invesco Ltd. now owns 13,146,875 shares of the computer maker's stock valued at $321,573,000 after purchasing an additional 1,806,246 shares during the last quarter. Legal & General Group Plc lifted its holdings in HP by 7.3% during the 3rd quarter. Legal & General Group Plc now owns 8,653,215 shares of the computer maker's stock valued at $235,627,000 after purchasing an additional 586,694 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in HP by 186.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 8,378,723 shares of the computer maker's stock worth $228,153,000 after purchasing an additional 5,449,691 shares during the period. Institutional investors own 77.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HPQ. Wells Fargo & Company decreased their price objective on shares of HP from $25.00 to $18.00 and set an "underweight" rating on the stock in a report on Wednesday, February 25th. Citigroup reduced their target price on shares of HP from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Tuesday, February 17th. Evercore set a $22.00 price target on shares of HP in a research note on Thursday, February 19th. Weiss Ratings reissued a "hold (c)" rating on shares of HP in a report on Thursday, January 22nd. Finally, Argus upgraded HP to a "strong-buy" rating in a report on Tuesday, December 2nd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $21.58.

HP Stock Performance

Shares of HP stock opened at $18.94 on Friday. The firm has a 50-day moving average of $19.54 and a 200-day moving average of $23.82. HP Inc. has a 52-week low of $17.56 and a 52-week high of $29.55. The stock has a market cap of $17.32 billion, a PE ratio of 7.17, a PEG ratio of 5.26 and a beta of 1.18.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The computer maker reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.04. The business had revenue of $14.44 billion for the quarter, compared to analyst estimates of $13.87 billion. HP had a net margin of 4.46% and a negative return on equity of 367.41%. HP's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. HP has set its Q2 2026 guidance at 0.700-0.760 EPS. Equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Wednesday, March 11th. HP's payout ratio is presently 45.45%.

Insider Activity

In related news, insider Ketan M. Patel sold 33,321 shares of the stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $23.19, for a total transaction of $772,713.99. Following the sale, the insider owned 34,572 shares of the company's stock, valued at $801,724.68. This represents a 49.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.