Engineers Gate Manager LP Makes New $3.97 Million Investment in HP Inc. $HPQ

Key Points

• Engineers Gate Manager LP purchased 181,069 HP shares worth approximately $3.97 million during the second quarter, while institutional investors collectively own 77.53% of the company.
• HP reported stronger-than-expected quarterly results, with adjusted EPS of $0.83 versus estimates of $0.66 and revenue of $15.68 billion versus $14.44 billion expected. Revenue increased 12.5% year over year.
• HP shares opened at $35.42, near their 52-week high, while analysts maintain a consensus “Hold” rating with an average price target of $25.77. The company also declared a quarterly dividend of $0.30 per share, yielding about 3.4% annually.

Engineers Gate Manager LP purchased a new stake in HP Inc. (NYSE:HPQ - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 181,069 shares of the computer maker's stock, valued at approximately $3,973,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cidel Asset Management Inc. increased its holdings in shares of HP by 9.4% during the second quarter. Cidel Asset Management Inc. now owns 25,501 shares of the computer maker's stock valued at $559,000 after purchasing an additional 2,197 shares during the period. Integrated Wealth Concepts LLC grew its position in HP by 5.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 46,120 shares of the computer maker's stock valued at $1,012,000 after buying an additional 2,226 shares in the last quarter. IFP Advisors Inc increased its stake in HP by 49.1% during the 2nd quarter. IFP Advisors Inc now owns 36,510 shares of the computer maker's stock valued at $801,000 after buying an additional 12,026 shares during the period. Baird Financial Group Inc. raised its position in shares of HP by 40.6% during the 2nd quarter. Baird Financial Group Inc. now owns 199,615 shares of the computer maker's stock worth $4,380,000 after buying an additional 57,646 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. increased its stake in shares of HP by 21.0% during the second quarter. Beacon Investment Advisory Services Inc. now owns 11,179 shares of the computer maker's stock valued at $245,000 after acquiring an additional 1,937 shares during the period. 77.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other HP news, insider David McQuarrie sold 21,048 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.98, for a total transaction of $631,019.04. Following the transaction, the insider directly owned 39,580 shares in the company, valued at $1,186,608.40. This trade represents a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,096 shares of company stock worth $1,218,890 in the last 90 days. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HPQ shares. Bank of America restated an "underperform" rating on shares of HP in a research report on Thursday, August 27th. JPMorgan Chase & Co. boosted their price objective on HP from $22.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, May 28th. Citigroup lifted their target price on HP from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, May 28th. Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of HP from $18.00 to $20.00 and gave the stock an "underweight" rating in a research note on Thursday, May 28th. Three investment 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, HP has an average rating of "Hold" and an average price target of $25.77.

HP Trading Up 8.2%

HPQ opened at $35.42 on Friday. The stock has a fifty day moving average price of $28.29 and a 200 day moving average price of $23.69. HP Inc. has a 1 year low of $17.56 and a 1 year high of $36.22. The stock has a market cap of $31.94 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.84 and a beta of 1.18.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.17. The company had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.44 billion. HP had a negative return on equity of 947.78% and a net margin of 4.14%.The business's quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. As a group, sell-side analysts forecast that HP Inc. will post 3.23 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, October 7th. Stockholders of record on Wednesday, September 9th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, September 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.4%. HP's dividend payout ratio (DPR) is currently 45.80%.

HP Profile

HP Inc is a global technology company that develops and sells personal computing and printing products and related services. Its Personal Systems business offers laptops, desktop computers, workstations, gaming PCs, monitors, peripherals and accessories for consumers, businesses and public-sector organizations.

Through its Printing business, HP provides home and office printers, commercial printing systems, supplies such as ink and toner, and managed print services. The company also offers software and solutions designed to support device management, security, productivity and digital workflows.

HP serves customers in markets around the world through direct sales, online channels, retailers, distributors and business partners.

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