HP Inc. $HPQ Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in HP Inc. by 89.7% during the second quarter, selling 349,472 shares and retaining only 40,303 shares.
• HP's consensus rating among analysts is a "Hold", with various price targets set, the highest being $30.00 from Sanford C. Bernstein.
• HP reported earnings of $0.75 per share for the last quarter, matching analyst estimates, with revenues of $13.93 billion, up 3.1% year-over-year.

Assenagon Asset Management S.A. lowered its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 89.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,303 shares of the computer maker's stock after selling 349,472 shares during the quarter. Assenagon Asset Management S.A.'s holdings in HP were worth $986,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. WPG Advisers LLC acquired a new position in HP in the 1st quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of HP in the first quarter valued at about $35,000. Iron Horse Wealth Management LLC acquired a new stake in shares of HP in the first quarter valued at about $39,000. Financial Freedom LLC lifted its stake in shares of HP by 141.4% in the first quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after buying an additional 878 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in HP by 165.3% during the first quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock worth $42,000 after acquiring an additional 947 shares during the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HPQ has been the topic of a number of research reports. Zacks Research raised shares of HP from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Sanford C. Bernstein started coverage on HP in a research report on Monday, September 15th. They set a "market perform" rating and a $30.00 price objective on the stock. Barclays dropped their target price on HP from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Thursday, August 28th. Evercore ISI reiterated an "in-line" rating and set a $29.00 price target on shares of HP in a report on Wednesday, September 10th. Finally, UBS Group upped their price objective on shares of HP from $26.00 to $29.00 and gave the company a "neutral" rating in a report on Thursday, August 28th. One investment analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $29.38.

HP Trading Down 0.5%

Shares of NYSE:HPQ opened at $26.71 on Friday. The company has a market capitalization of $24.97 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 2.15 and a beta of 1.29. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.79. The business has a 50-day moving average price of $27.02 and a 200 day moving average price of $26.24.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Wednesday, August 27th. The computer maker reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. The company had revenue of $13.93 billion during the quarter, compared to analyst estimates of $13.69 billion. HP had a net margin of 4.83% and a negative return on equity of 262.03%. HP's revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. As a group, equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

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.

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