Forvis Mazars Wealth Advisors LLC Has $5.53 Million Holdings in HP Inc. $HPQ

Key Points

• Forvis Mazars Wealth Advisors LLC increased its stake in HP Inc. by 21.5%, owning a total of 199,652 shares valued at approximately $5.53 million.
• Analysts have lowered their price targets for HP shares, with Morgan Stanley cutting its target from $29 to $26, reflecting a broader trend among multiple firms rating the stock as "neutral" or "hold."
• HP announced a quarterly dividend of $0.2894 per share, representing an annualized yield of 4.3%, which will be paid on October 1st, with a payout ratio of 44.79%.

Forvis Mazars Wealth Advisors LLC raised its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 199,652 shares of the computer maker's stock after purchasing an additional 35,303 shares during the period. Forvis Mazars Wealth Advisors LLC's holdings in HP were worth $5,528,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. West Paces Advisors Inc. raised its position in shares of HP by 3.2% during the 4th quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker's stock worth $314,000 after purchasing an additional 298 shares during the last quarter. Beverly Hills Private Wealth LLC grew its stake in HP by 0.8% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 45,729 shares of the computer maker's stock valued at $1,492,000 after acquiring an additional 384 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of HP by 2.1% in the 1st quarter. Bleakley Financial Group LLC now owns 20,262 shares of the computer maker's stock valued at $561,000 after buying an additional 411 shares during the period. Rehmann Capital Advisory Group grew its stake in shares of HP by 3.9% in the 4th quarter. Rehmann Capital Advisory Group now owns 11,383 shares of the computer maker's stock valued at $371,000 after buying an additional 428 shares during the period. Finally, Private Trust Co. NA boosted its position in shares of HP by 13.3% during the 1st quarter. Private Trust Co. NA now owns 3,684 shares of the computer maker's stock worth $102,000 after purchasing an additional 433 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HPQ. Wells Fargo & Company reduced their target price 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. Barclays set a $28.00 price target on shares of HP and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. UBS Group lowered their price objective on shares of HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Morgan Stanley lowered their target price on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, May 29th. Finally, Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Two analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $29.54.

HP Trading Down 2.0%

HPQ stock traded down $0.5450 during mid-day trading on Wednesday, hitting $26.4550. 3,801,573 shares of the company were exchanged, compared to its average volume of 8,220,854. The firm has a fifty day simple moving average of $25.27 and a 200 day simple moving average of $27.06. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.79. The company has a market capitalization of $24.85 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 2.17 and a beta of 1.29.

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

HP Dividend Announcement

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

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.