HP Inc. $HPQ Stock Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its HP position by 2,864.6% in the third quarter, adding 1.6 million shares to hold 1.66 million shares worth approximately $51.9 million. Institutional investors collectively own 77.53% of HP.
• HP’s latest quarterly results exceeded expectations, with adjusted EPS of $0.83 versus the $0.66 consensus and revenue of $15.68 billion versus $14.44 billion expected. Revenue rose 12.5% year over year.
• Analyst sentiment remains cautious: HP has a consensus rating of “Reduce” and an average price target of $25.42, below its reported share price of $30.10.

Assenagon Asset Management S.A. grew its position in HP Inc. (NYSE:HPQ - Free Report) by 2,864.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,659,432 shares of the computer maker's stock after acquiring an additional 1,603,457 shares during the period. Assenagon Asset Management S.A. owned 0.18% of HP worth $51,907,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Curated Wealth Partners LLC bought a new position in HP in the third quarter valued at about $545,000. Sanders Morris Harris LLC acquired a new stake in shares of HP during the third quarter valued at about $469,000. Signal Advisors Wealth LLC bought a new stake in shares of HP during the third quarter worth about $218,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of HP during the third quarter worth about $246,000. Finally, Krilogy Financial LLC grew its holdings in shares of HP by 139.5% during the third quarter. Krilogy Financial LLC now owns 24,341 shares of the computer maker's stock worth $727,000 after purchasing an additional 14,178 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Trading Down 2.4%

NYSE HPQ opened at $30.10 on Friday. The firm has a market capitalization of $27.14 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.56 and a beta of 1.17. The business's 50-day moving average price is $31.33 and its two-hundred day moving average price is $25.97. HP Inc. has a 12 month low of $17.56 and a 12 month high of $36.22.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.17. The company had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.44 billion. HP had a negative return on equity of 947.78% and a net margin of 4.14%. The firm's revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. As a group, analysts forecast that HP Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other HP news, insider David McQuarrie sold 31,572 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $32.12, for a total transaction of $1,014,092.64. Following the completion of the sale, the insider owned 8,008 shares of the company's stock, valued at approximately $257,216.96. This represents a 79.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 73,668 shares of company stock valued at $2,232,982 in the last quarter. Corporate insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HPQ. The Goldman Sachs Group lifted their target price on shares of HP from $19.00 to $21.00 and gave the stock a "sell" rating in a research report on Wednesday, August 12th. Weiss Ratings restated a "hold (c)" rating on shares of HP in a research report on Friday, October 2nd. Zacks Research raised shares of HP from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 7th. Royal Bank Of Canada began coverage on shares of HP in a research note on Thursday, September 10th. They set a "sector perform" rating and a $33.00 price target for the company. Finally, Barclays lifted their price target on shares of HP from $19.00 to $23.00 and gave the stock an "underweight" rating in a report on Friday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, HP currently has a consensus rating of "Reduce" and a consensus target price of $25.42.

About HP

HP Inc NYSE: HPQ is a global technology company that develops and sells personal computing and printing products, services, and solutions. Its portfolio includes laptops, desktop computers, workstations, monitors, accessories, and other peripherals for consumers and businesses.

The company's printing business provides printers, multifunction devices, digital presses, supplies such as ink and toner, and related services and solutions. HP also offers managed print services, device and lifecycle management, and other technology services designed to support workplace productivity and hybrid work environments.

HP traces its origins to Hewlett-Packard, founded in 1939 by Bill Hewlett and Dave Packard.

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