LaSalle St. Investment Advisors LLC Invests $1.21 Million in HP Inc. $HPQ

Key Points

• LaSalle St. Investment Advisors purchased 54,953 HP shares worth approximately $1.21 million in the second quarter. Institutional investors collectively own 77.53% of HP’s stock.
• Analyst sentiment remains cautious: HP has a consensus rating of “Reduce” and an average price target of $23.50, despite several brokerages raising their targets.
• HP reported quarterly earnings of $0.86 per share, beating estimates of $0.72, while revenue rose 9% year over year to $14.41 billion. The company also announced a quarterly dividend of $0.30 per share, representing a 4.1% annualized yield.

LaSalle St. Investment Advisors LLC purchased a new position in HP Inc. (NYSE:HPQ - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 54,953 shares of the computer maker's stock, valued at approximately $1,206,000.

A number of other large investors also recently bought and sold shares of HPQ. IHT Wealth Management LLC grew its holdings in HP by 3.3% in the second quarter. IHT Wealth Management LLC now owns 12,470 shares of the computer maker's stock worth $305,000 after purchasing an additional 398 shares during the period. Vident Advisory LLC lifted its holdings in shares of HP by 0.6% during the second quarter. Vident Advisory LLC now owns 69,579 shares of the computer maker's stock valued at $1,702,000 after purchasing an additional 444 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of HP by 10.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 5,020 shares of the computer maker's stock worth $110,000 after purchasing an additional 467 shares in the last quarter. Vise Technologies Inc. boosted its position in shares of HP by 2.4% in the 3rd quarter. Vise Technologies Inc. now owns 20,531 shares of the computer maker's stock worth $559,000 after purchasing an additional 477 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its stake in shares of HP by 0.6% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 80,784 shares of the computer maker's stock worth $1,772,000 after buying an additional 491 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other HP news, insider David P. Mcquarrie sold 21,048 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.98, for a total value of $631,019.04. Following the completion of the transaction, the insider owned 39,580 shares of the company's stock, valued at approximately $1,186,608.40. The trade was 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 52,620 shares of company stock valued at $1,478,622. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on HPQ. Morgan Stanley lifted their price objective on HP from $17.00 to $19.00 and gave the company an "underweight" rating in a research note on Thursday, May 28th. Wells Fargo & Company increased their target price on HP from $18.00 to $20.00 and gave the stock an "underweight" rating in a research note on Thursday, May 28th. The Goldman Sachs Group raised their price target on HP from $19.00 to $21.00 and gave the company a "sell" rating in a report on Wednesday, August 12th. Citigroup upped their price target on shares of HP from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, May 28th. Finally, Wall Street Zen downgraded shares of HP from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $23.50.

HP Stock Down 1.7%

Shares of NYSE HPQ opened at $29.42 on Friday. The firm has a market cap of $26.91 billion, a P/E ratio of 10.86, a PEG ratio of 5.05 and a beta of 1.17. HP Inc. has a twelve month low of $17.56 and a twelve month high of $32.19. The company has a 50 day moving average of $25.69 and a 200 day moving average of $22.35.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Wednesday, May 27th. The computer maker reported $0.86 EPS for the quarter, beating the consensus estimate of $0.72 by $0.14. The business had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The company's revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business 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. As a group, equities analysts expect that HP Inc. will post 2.98 earnings per share for the current fiscal 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 issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, September 9th. HP's dividend payout ratio (DPR) is presently 44.28%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source