HP Inc. $HPQ Shares Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its HP Inc. stake by 121% in the fourth quarter, buying an additional 129,400 shares and ending with 236,300 shares valued at about $5.27 million.
• Several other institutional investors also boosted their HP holdings, and 77.53% of HP stock is owned by institutions and hedge funds, indicating heavy institutional interest.
• HP reported better-than-expected quarterly results, with EPS of $0.86 versus $0.72 expected and revenue of $14.41 billion versus $13.99 billion expected; the company also raised guidance and declared a quarterly dividend of $0.30 per share.

Alberta Investment Management Corp grew its stake in HP Inc. (NYSE:HPQ - Free Report) by 121.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 236,300 shares of the computer maker's stock after purchasing an additional 129,400 shares during the period. Alberta Investment Management Corp's holdings in HP were worth $5,265,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. DNB Asset Management AS raised its stake in shares of HP by 242.2% during the 4th quarter. DNB Asset Management AS now owns 10,594,630 shares of the computer maker's stock worth $236,048,000 after buying an additional 7,498,202 shares in the last quarter. Norges Bank acquired a new stake in shares of HP in the fourth quarter valued at about $149,309,000. Arrowstreet Capital Limited Partnership boosted its holdings 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 buying an additional 5,449,691 shares in the last quarter. AQR Capital Management LLC grew its position in HP by 143.4% during the third quarter. AQR Capital Management LLC now owns 9,039,803 shares of the computer maker's stock worth $244,527,000 after buying an additional 5,325,260 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of HP by 626.6% during the 4th quarter. Renaissance Technologies LLC now owns 4,948,700 shares of the computer maker's stock valued at $110,257,000 after acquiring an additional 4,267,600 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at HP

In related news, insider David P. Mcquarrie sold 10,524 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $24.68, for a total value of $259,732.32. Following the transaction, the insider owned 92,200 shares in the company, valued at approximately $2,275,496. This trade represents a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barclays increased their price objective on shares of HP from $16.00 to $19.00 and gave the company an "underweight" rating in a research note on Thursday, May 28th. Morgan Stanley raised their price objective on shares of HP from $17.00 to $19.00 and gave the stock an "underweight" rating in a research note on Thursday, May 28th. Bank of America lifted their price objective on HP from $16.00 to $18.00 and gave the stock an "underperform" rating in a research report on Thursday, May 28th. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. lifted their price target on shares of HP from $22.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, HP presently has a consensus rating of "Reduce" and a consensus target price of $23.33.

HP Price Performance

NYSE HPQ opened at $24.29 on Wednesday. The company has a market cap of $22.21 billion, a P/E ratio of 8.96, a P/E/G ratio of 4.15 and a beta of 1.17. HP Inc. has a 12 month low of $17.56 and a 12 month high of $29.65. The company has a 50-day moving average of $22.18 and a 200-day moving average of $21.27.

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

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.9%. HP's payout ratio is presently 44.28%.

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.