American Century Companies Inc. Acquires 367,418 Shares of HP Inc. $HPQ

Key Points

• American Century Companies Inc. increased its stake in HP Inc. by 7.4%, now holding over 5.3 million shares worth approximately $147 million.
• HP reported earnings of $0.71 per share for the last quarter, which was below analysts' expectations of $0.80, while revenue increased by 3.3% year-over-year.
• The company recently announced a quarterly dividend of $0.2894 per share, with a dividend yield of 4.3% and a payout ratio of 44.79%.

American Century Companies Inc. boosted its holdings in HP Inc. (NYSE:HPQ - Free Report) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,308,991 shares of the computer maker's stock after purchasing an additional 367,418 shares during the quarter. American Century Companies Inc. owned approximately 0.56% of HP worth $147,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of HP during the fourth quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of HP during the first quarter valued at $35,000. CoreCap Advisors LLC lifted its holdings in HP by 71.9% in the fourth quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock worth $46,000 after purchasing an additional 587 shares during the period. Iron Horse Wealth Management LLC acquired a new stake in HP in the first quarter worth about $39,000. Finally, Financial Freedom LLC lifted its holdings in 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 purchasing an additional 878 shares during the period. Institutional investors and hedge funds own 77.53% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of HP from $35.00 to $25.00 and set an "underweight" rating for the company in a report on Thursday, May 29th. Barclays set a $28.00 price objective on shares of HP and gave the stock an "equal weight" rating in a report on Thursday, May 29th. Evercore ISI reduced their price objective on shares of HP from $40.00 to $32.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Dbs Bank downgraded shares of HP from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 11th. Finally, UBS Group cut their price target on shares of HP from $37.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $29.54.

HP Price Performance

NYSE HPQ traded down $0.5350 on Wednesday, hitting $26.4650. 3,801,573 shares of the company were exchanged, compared to its average volume of 8,220,854. The firm has a market capitalization of $24.86 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 2.17 and a beta of 1.29. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.79. The company's 50 day moving average price is $25.27 and its 200-day moving average price is $27.06.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). The firm had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. HP has set its FY 2025 guidance at 3.000-3.300 EPS. Q3 2025 guidance at 0.680-0.800 EPS. As a group, equities analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business 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 of this dividend is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a yield of 4.4%. HP's dividend payout ratio is presently 44.79%.

HP Company 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.