Ethic Inc. Sells 13,705 Shares of HP Inc. $HPQ

Key Points

• Ethic Inc. reduced its holdings in HP Inc. by 9.5%, selling 13,705 shares and ending the quarter with a total of 130,193 shares valued at approximately $3.62 million.
• HP reported earnings per share of $0.71 for the recent quarter, falling short of analysts' expectations of $0.80, despite revenues increasing by 3.3% year-over-year to $13.22 billion.
• The company announced a quarterly dividend of $0.2894 per share, with a dividend yield of 4.3%, to be paid on October 1st to stockholders of record by September 10th.

Ethic Inc. cut its position in HP Inc. (NYSE:HPQ - Free Report) by 9.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,193 shares of the computer maker's stock after selling 13,705 shares during the quarter. Ethic Inc.'s holdings in HP were worth $3,618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HPQ. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of HP in the fourth quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in HP during the 1st quarter valued at approximately $35,000. CoreCap Advisors LLC boosted its stake in HP by 71.9% during the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock valued at $46,000 after purchasing an additional 587 shares during the period. Iron Horse Wealth Management LLC acquired a new stake in HP in the 1st quarter valued at approximately $39,000. Finally, Financial Freedom LLC increased its position in HP by 141.4% in the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after buying an additional 878 shares during the period. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Stock Down 1.9%

HP stock traded down $0.5040 on Wednesday, hitting $26.4960. The company's stock had a trading volume of 6,458,870 shares, compared to its average volume of 8,239,082. HP Inc. has a one year low of $21.21 and a one year high of $39.79. The firm has a market cap of $24.89 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 2.17 and a beta of 1.29. The company has a fifty day moving average price of $25.27 and a 200-day moving average price of $27.06.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). The business had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. HP's revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $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. Analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

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

Analysts Set New Price Targets

HPQ has been the subject of several research reports. Dbs Bank cut HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. TD Cowen cut their target price on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a research note on Thursday, May 29th. Citigroup reduced their price target on shares of HP from $29.00 to $27.50 and set a "neutral" rating for the company in a report on Thursday, May 29th. Wells Fargo & Company dropped their price objective on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a report on Thursday, May 29th. Finally, UBS Group cut their price objective on shares of HP from $37.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, HP presently has an average rating of "Hold" and an average target price of $29.54.

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.