Meyer Handelman Co. Cuts Holdings in HP Inc. $HPQ

Key Points

• Meyer Handelman Co. reduced its stake in HP Inc. by 4.4%, selling 9,700 shares and leaving it with 209,444 shares valued at approximately $5.12 million.
• Other institutional investors have increased their holdings in HP, with Invesco Ltd. leading by boosting its position by 19.2% during the first quarter.
• HP's stock has a consensus rating of "Hold" from analysts, with a consensus price target of $29.38.

Meyer Handelman Co. decreased its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,444 shares of the computer maker's stock after selling 9,700 shares during the period. Meyer Handelman Co.'s holdings in HP were worth $5,123,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of HP by 19.2% in the 1st quarter. Invesco Ltd. now owns 11,340,629 shares of the computer maker's stock valued at $314,022,000 after acquiring an additional 1,829,411 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of HP by 7.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,013,184 shares of the computer maker's stock valued at $277,265,000 after acquiring an additional 724,020 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of HP by 2.4% in the 1st quarter. Deutsche Bank AG now owns 8,241,378 shares of the computer maker's stock valued at $228,204,000 after acquiring an additional 189,969 shares during the last quarter. Nuveen LLC bought a new position in shares of HP in the 1st quarter valued at about $179,037,000. Finally, American Century Companies Inc. lifted its holdings in shares of HP by 7.4% in the 1st quarter. American Century Companies Inc. now owns 5,308,991 shares of the computer maker's stock valued at $147,006,000 after acquiring an additional 367,418 shares during the last quarter. Institutional investors own 77.53% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Evercore ISI reissued an "in-line" rating and issued a $29.00 price objective on shares of HP in a research note on Wednesday, September 10th. JPMorgan Chase & Co. raised their price objective on shares of HP from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Sanford C. Bernstein assumed coverage on shares of HP in a research note on Monday, September 15th. They issued a "market perform" rating and a $30.00 price objective for the company. Citigroup decreased 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. Finally, Dbs Bank downgraded shares of HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, HP has a consensus rating of "Hold" and a consensus price target of $29.38.

HP Stock Performance

HP stock opened at $26.83 on Friday. The company has a 50 day moving average price of $26.99 and a 200-day moving average price of $26.27. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.79. The company has a market capitalization of $25.08 billion, a PE ratio of 9.79, a P/E/G ratio of 2.21 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The computer maker reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. HP had a net margin of 4.83% and a negative return on equity of 262.03%. The firm had revenue of $13.93 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The company's revenue was up 3.1% on a year-over-year basis. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. On average, analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP 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.

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