Kendall Capital Management Invests $2.36 Million in HP Inc. $HPQ

Key Points

• Kendall Capital Management acquired 107,423 HP shares during the second quarter, valued at approximately $2.36 million. Institutional investors collectively own 77.53% of HP’s outstanding stock.
• HP reported quarterly EPS of $0.86, beating estimates of $0.72, while revenue rose 9% year over year to $14.41 billion. The company also maintained a quarterly dividend of $0.30 per share, representing a 4.0% annualized yield.
• HP shares opened at $29.76, above the analyst consensus price target of $23.50; the stock carries an average “Reduce” rating, with analysts split among buy, hold, and sell recommendations.

Kendall Capital Management acquired a new position in shares of HP Inc. (NYSE:HPQ - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 107,423 shares of the computer maker's stock, valued at approximately $2,357,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in HP by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 132,094,388 shares of the computer maker's stock worth $2,943,063,000 after purchasing an additional 2,435,634 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of HP during the 2nd quarter valued at $2,357,757,000. State Street Corp lifted its holdings in shares of HP by 5.3% during the 3rd quarter. State Street Corp now owns 52,703,639 shares of the computer maker's stock valued at $1,450,245,000 after purchasing an additional 2,651,623 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of HP by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 27,313,924 shares of the computer maker's stock worth $607,373,000 after purchasing an additional 274,033 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of HP by 31.7% in the 4th quarter. Invesco Ltd. now owns 15,236,428 shares of the computer maker's stock worth $339,468,000 after purchasing an additional 3,671,511 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Price Performance

NYSE HPQ opened at $29.76 on Friday. The company has a market cap of $27.22 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 5.01 and a beta of 1.17. The stock's fifty day moving average price is $25.78 and its 200 day moving average price is $22.40. HP Inc. has a 1 year low of $17.56 and a 1 year high of $32.19.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The computer maker reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.14. The company had revenue of $14.41 billion during the quarter, compared to analysts' expectations of $13.99 billion. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The firm's revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm 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 expect that HP Inc. will post 2.98 earnings per share for the current year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.0%. HP's payout ratio is 44.28%.

Insider Buying and Selling

In related news, insider David P. Mcquarrie sold 21,048 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $29.98, for a total value of $631,019.04. Following the transaction, the insider owned 39,580 shares in the company, valued at approximately $1,186,608.40. This represents a 34.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 52,620 shares of company stock valued at $1,478,622 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HPQ. Morgan Stanley upped their target price on HP from $17.00 to $19.00 and gave the company an "underweight" rating in a research report on Thursday, May 28th. Citigroup raised their price target on HP from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, May 28th. The Goldman Sachs Group boosted their price target on HP from $19.00 to $21.00 and gave the stock a "sell" rating in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of HP from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of HP from $22.00 to $26.00 and gave the company a "neutral" rating in a research 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $23.50.

About HP

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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