Neuberger Berman Group LLC Has $8.69 Million Holdings in HP Inc. $HPQ

Key Points

• Neuberger Berman Group LLC reduced its stake in HP Inc. by 8.7%, selling 29,749 shares in Q1, which left them with a holding worth approximately $8.69 million.
• HP Inc. reported a missed EPS estimate for the last quarter at $0.71, falling short of the expected $0.80, although revenues increased by 3.3% year-over-year.
• The company declared a quarterly dividend of $0.2894 per share, with a yield of 4.3%, scheduled for payment on October 1st.

Neuberger Berman Group LLC lowered its position in HP Inc. (NYSE:HPQ - Free Report) by 8.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 313,955 shares of the computer maker's stock after selling 29,749 shares during the period. Neuberger Berman Group LLC's holdings in HP were worth $8,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HPQ. Gotham Asset Management LLC boosted its holdings in shares of HP by 23.6% in the 4th quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock worth $20,864,000 after purchasing an additional 122,289 shares during the period. BayBridge Capital Group LLC purchased a new position in HP during the 1st quarter worth $1,505,000. Meritage Portfolio Management grew its stake in HP by 37.8% during the 1st quarter. Meritage Portfolio Management now owns 140,632 shares of the computer maker's stock worth $3,894,000 after buying an additional 38,568 shares during the last quarter. Horizon Financial Services LLC grew its stake in HP by 2,669.0% during the 1st quarter. Horizon Financial Services LLC now owns 11,519 shares of the computer maker's stock valued at $319,000 after purchasing an additional 11,103 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC purchased a new stake in shares of HP in the first quarter worth about $627,000. Institutional investors own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on HPQ shares. Dbs Bank cut HP from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 11th. TD Cowen cut their price target on HP from $38.00 to $28.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Bank of America lowered their price objective on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. KGI Securities assumed coverage on HP in a research report on Thursday, May 29th. They set a "neutral" rating for the company. Finally, Citigroup lowered their price objective on shares of HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research note on Thursday, May 29th. Two analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, HP presently has an average rating of "Hold" and an average target price of $29.54.

HP Price Performance

HP stock traded up $0.2550 during midday trading on Tuesday, reaching $27.0850. The stock had a trading volume of 3,830,340 shares, compared to its average volume of 8,228,133. The firm has a market cap of $25.44 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 2.16 and a beta of 1.29. The firm's fifty day simple moving average is $25.24 and its two-hundred day simple moving average is $27.06. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.79.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The business had revenue of $13.22 billion for 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 firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business 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, sell-side 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. Investors of record on Wednesday, September 10th will be paid a $0.2894 dividend. 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 4.3%. HP's payout ratio is presently 44.79%.

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.