HP Inc. $HPQ Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in HP Inc. by 6.3%, selling 27,871 shares, leaving them with 413,837 shares valued at $11.46 million as of the last quarter.
• HP Inc. reported $0.71 EPS for the quarter, missing estimates by $0.09, while experiencing a 3.3% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.2894 per share, yielding approximately 4.3%, with the dividend payout ratio at 44.40%.

Corebridge Financial Inc. cut its position in HP Inc. (NYSE:HPQ - Free Report) by 6.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 413,837 shares of the computer maker's stock after selling 27,871 shares during the quarter. Corebridge Financial Inc.'s holdings in HP were worth $11,459,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Gotham Asset Management LLC grew its stake in shares of HP by 23.6% in the fourth quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock valued at $20,864,000 after buying an additional 122,289 shares in the last quarter. BayBridge Capital Group LLC acquired a new stake in shares of HP in the first quarter valued at $1,505,000. Meritage Portfolio Management grew its stake in shares of HP by 37.8% in the first quarter. Meritage Portfolio Management now owns 140,632 shares of the computer maker's stock valued at $3,894,000 after buying an additional 38,568 shares in the last quarter. Horizon Financial Services LLC grew its stake in shares of HP by 2,669.0% in the first quarter. Horizon Financial Services LLC now owns 11,519 shares of the computer maker's stock valued at $319,000 after buying an additional 11,103 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC acquired a new stake in shares of HP in the first quarter valued at $627,000. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Trading Up 0.7%

Shares of HP stock traded up $0.19 on Friday, hitting $28.54. The stock had a trading volume of 12,745,588 shares, compared to its average volume of 8,432,403. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.79. The stock has a market cap of $26.81 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 2.28 and a beta of 1.29. The company's 50 day moving average price is $25.76 and its 200 day moving average price is $26.82.

HP (NYSE:HPQ - Get Free Report) last posted its earnings results on Wednesday, August 27th. The computer maker reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. HP had a negative return on equity of 262.03% and a net margin of 4.83%.The business had revenue of $13.93 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the previous year, the business earned $0.83 EPS. The business's quarterly revenue was up 3.1% on a year-over-year basis. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. Analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.1%. HP's payout ratio is presently 44.79%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HPQ. JPMorgan Chase & Co. lifted their target price on HP from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday. Bank of America decreased their price target on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. KGI Securities started coverage on HP in a report on Thursday, May 29th. They set a "neutral" rating for the company. Dbs Bank downgraded HP from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 11th. Finally, Barclays decreased their price target on HP from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, HP currently has an average rating of "Hold" and an average price target of $29.96.

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.