HP Inc. $HPQ Shares Purchased by Credit Agricole S A

Key Points

• Credit Agricole S A increased its stake in HP Inc. by 8.0% in Q1, owning 349,706 shares valued at $9.68 million, following a broader trend of institutional investors raising their holdings in the company.
• HP reported Q2 earnings of $0.71 per share, missing estimates and noted a negative return on equity of 244.99%, while revenue increased 3.3% year-over-year to $13.22 billion.
• The company also declared a quarterly dividend of $0.2894, representing an annualized yield of 4.4%, with a payout ratio of 44.79% and scheduled for payment on October 1st.

Credit Agricole S A raised its position in HP Inc. (NYSE:HPQ - Free Report) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 349,706 shares of the computer maker's stock after acquiring an additional 25,870 shares during the quarter. Credit Agricole S A's holdings in HP were worth $9,683,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Northern Trust Corp lifted its position in shares of HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock worth $419,126,000 after purchasing an additional 1,755,942 shares during the last quarter. Invesco Ltd. raised its stake in HP by 19.2% in the first quarter. Invesco Ltd. now owns 11,340,629 shares of the computer maker's stock valued at $314,022,000 after buying an additional 1,829,411 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in HP by 8.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker's stock worth $303,105,000 after buying an additional 707,742 shares during the last quarter. Deutsche Bank AG boosted its position in shares of HP by 2.4% during the 1st quarter. Deutsche Bank AG now owns 8,241,378 shares of the computer maker's stock worth $228,204,000 after acquiring an additional 189,969 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of HP in the 1st quarter valued at about $179,037,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Trading Up 0.3%

NYSE:HPQ opened at $26.55 on Friday. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.79. The stock's 50 day simple moving average is $25.34 and its 200-day simple moving average is $27.02. The firm has a market cap of $24.94 billion, a P/E ratio of 10.25, a PEG ratio of 2.14 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly 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). HP had a negative return on equity of 244.99% and a net margin of 4.64%.The company had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period in the prior year, the business earned $0.82 earnings per share. HP's revenue for the quarter 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. Research analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently weighed in on HPQ. Zacks Research upgraded HP from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Wells Fargo & Company cut their price target on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research note on Thursday, May 29th. Dbs Bank downgraded shares of HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Barclays set a $28.00 price objective on HP and gave the stock an "equal weight" rating in a report on Thursday, May 29th. Finally, Citigroup decreased their target price on HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $29.54.

About HP

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.

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