Janney Montgomery Scott LLC Sells 43,676 Shares of HP Inc. $HPQ

Key Points

• Janney Montgomery Scott LLC cut its HP Inc. stake by 30% in Q1, selling 43,676 shares and leaving it with 101,923 shares valued at about $1.96 million.
• HP reported better-than-expected quarterly results, with EPS of $0.86 versus $0.72 expected and revenue of $14.41 billion versus $13.99 billion expected, while raising full-year guidance to $2.90–$3.10 EPS.
• HP announced a quarterly dividend of $0.30 per share, implying a 5.0% annual yield, even as analysts remain cautious with a consensus rating of “Reduce” and a target price of $23.33.

Janney Montgomery Scott LLC reduced its position in HP Inc. (NYSE:HPQ - Free Report) by 30.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,923 shares of the computer maker's stock after selling 43,676 shares during the quarter. Janney Montgomery Scott LLC's holdings in HP were worth $1,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Baird Financial Group Inc. boosted its position in HP by 13.1% during the second quarter. Baird Financial Group Inc. now owns 114,169 shares of the computer maker's stock worth $2,793,000 after purchasing an additional 13,265 shares during the period. Gamco Investors INC. ET AL raised its position in shares of HP by 2.7% in the second quarter. Gamco Investors INC. ET AL now owns 21,230 shares of the computer maker's stock valued at $519,000 after purchasing an additional 551 shares during the period. Daiwa Securities Group Inc. raised its position in shares of HP by 6.4% in the second quarter. Daiwa Securities Group Inc. now owns 145,337 shares of the computer maker's stock valued at $3,555,000 after purchasing an additional 8,779 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of HP by 70.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 731,574 shares of the computer maker's stock valued at $17,894,000 after buying an additional 302,578 shares in the last quarter. Finally, HUB Investment Partners LLC bought a new position in HP in the 2nd quarter worth approximately $233,000. 77.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider David P. Mcquarrie sold 10,524 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $24.68, for a total transaction of $259,732.32. Following the completion of the transaction, the insider directly owned 92,200 shares in the company, valued at $2,275,496. The trade was a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.18% of the stock is currently owned by insiders.

HP Trading Up 1.3%

HP stock opened at $24.08 on Friday. The firm's 50 day simple moving average is $23.38 and its 200 day simple moving average is $21.05. The firm has a market capitalization of $22.02 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 4.01 and a beta of 1.19. HP Inc. has a 1-year low of $17.56 and a 1-year high of $29.65.

HP (NYSE:HPQ - Get Free Report) last posted its earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.14. The business had revenue of $14.41 billion for the quarter, compared to analysts' expectations of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. Research analysts forecast that HP Inc. will post 2.98 earnings per share for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.20 annualized dividend and a yield of 5.0%. HP's dividend payout ratio (DPR) is currently 44.28%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of HP from $20.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, May 28th. The Goldman Sachs Group increased their target price on HP from $16.00 to $19.00 and gave the stock a "sell" rating in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. lifted their price target on HP from $22.00 to $26.00 and gave the company a "neutral" rating in a research report on Thursday, May 28th. Citigroup boosted their price objective on HP from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, May 28th. Finally, Morgan Stanley increased their price objective on HP from $17.00 to $19.00 and gave the stock an "underweight" rating in a report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $23.33.

HP Profile

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.

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