HP Inc. $HPQ Shares Bought by First Horizon Corp

Key Points

• First Horizon Corp more than doubled its stake in HP Inc. during the first quarter, increasing holdings by 107% to 304,510 shares worth about $5.85 million.
• HP reported better-than-expected quarterly results, with EPS of $0.86 versus the $0.72 estimate and revenue of $14.41 billion, up 9% year over year.
• The company also announced a quarterly dividend of $0.30 per share, equal to a 5.0% annualized yield, while analysts currently maintain a consensus rating of “Reduce” on the stock.

First Horizon Corp raised its holdings in HP Inc. (NYSE:HPQ - Free Report) by 107.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 304,510 shares of the computer maker's stock after purchasing an additional 157,380 shares during the period. First Horizon Corp's holdings in HP were worth $5,850,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HPQ. Vanguard Group Inc. increased its holdings in HP by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 132,094,388 shares of the computer maker's stock worth $2,943,063,000 after acquiring an additional 2,435,634 shares in the last quarter. State Street Corp raised its position in shares of HP by 5.3% during the 3rd quarter. State Street Corp now owns 52,703,639 shares of the computer maker's stock worth $1,450,245,000 after purchasing an additional 2,651,623 shares during the last quarter. Geode Capital Management LLC lifted its stake in HP by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 27,313,924 shares of the computer maker's stock valued at $607,373,000 after buying an additional 274,033 shares in the last quarter. Invesco Ltd. lifted its stake in HP by 31.7% in the 4th quarter. Invesco Ltd. now owns 15,236,428 shares of the computer maker's stock valued at $339,468,000 after buying an additional 3,671,511 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in HP by 50.2% in the 4th quarter. AQR Capital Management LLC now owns 13,582,142 shares of the computer maker's stock worth $302,610,000 after buying an additional 4,542,339 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on HPQ. TD Cowen increased their target price on HP from $20.00 to $26.00 and gave the company a "hold" rating in a report on Thursday, May 28th. The Goldman Sachs Group lifted their price target on HP from $16.00 to $19.00 and gave the stock a "sell" rating in a research note on Tuesday, June 2nd. Citigroup increased their price objective on HP from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, May 28th. UBS Group raised their price objective on HP from $20.00 to $26.00 and gave the company a "neutral" rating in a report on Thursday, May 28th. Finally, Barclays upped their target price on shares of HP from $16.00 to $19.00 and gave the stock an "underweight" rating in a report on Thursday, May 28th. Two 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 company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $23.33.

HP Stock Performance

Shares of HP stock opened at $24.08 on Friday. The business's 50 day moving average price is $23.38 and its 200 day moving average price is $21.05. The company has a market cap of $22.02 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 4.01 and a beta of 1.19. HP Inc. has a one year low of $17.56 and a one year high of $29.65.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.14. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The company had revenue of $14.41 billion during the quarter, compared to analysts' expectations of $13.99 billion. During the same period in the prior year, the business earned $0.71 EPS. The firm's quarterly revenue was up 9.0% on a year-over-year basis. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. On average, analysts predict that HP Inc. will post 2.98 EPS for the current fiscal year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 5.0%. The ex-dividend date is Wednesday, September 9th. HP's dividend payout ratio (DPR) is presently 44.28%.

Insider Transactions at HP

In other HP news, insider David P. Mcquarrie sold 10,524 shares of HP stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $24.68, for a total transaction of $259,732.32. Following the transaction, the insider directly owned 92,200 shares of the company's stock, valued at $2,275,496. The trade was a 10.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.18% of the company's stock.

HP Company 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.

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