New Vernon Capital Holdings II LLC Increases Holdings in HP Inc. $HPQ

Key Points

• New Vernon Capital Holdings II LLC increased its stake in HP Inc. by a staggering 2,669.0%, owning approximately $17.12 million worth of the stock after acquiring 595,774 shares.
• HP's recent earnings report showed $0.75 earnings per share, matching analyst estimates, with revenues of $13.93 billion, exceeding expectations.
• The company announced a quarterly dividend of $0.2894 per share, representing an annualized yield of 4.0%, with the payout date set for October 1st.

New Vernon Capital Holdings II LLC grew its holdings in HP Inc. (NYSE:HPQ - Free Report) by 2,669.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 618,096 shares of the computer maker's stock after acquiring an additional 595,774 shares during the quarter. New Vernon Capital Holdings II LLC owned 0.07% of HP worth $17,115,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Invesco Ltd. boosted its holdings in HP by 19.2% in the first quarter. Invesco Ltd. now owns 11,340,629 shares of the computer maker's stock worth $314,022,000 after acquiring an additional 1,829,411 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of HP by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,289,164 shares of the computer maker's stock worth $303,105,000 after purchasing an additional 707,742 shares during the last quarter. Deutsche Bank AG raised its stake in shares of HP by 2.4% in the first quarter. Deutsche Bank AG now owns 8,241,378 shares of the computer maker's stock worth $228,204,000 after purchasing an additional 189,969 shares during the last quarter. Nuveen LLC purchased a new position in shares of HP in the first quarter worth about $179,037,000. Finally, American Century Companies Inc. raised its stake in shares of HP by 7.4% in the first quarter. American Century Companies Inc. now owns 5,308,991 shares of the computer maker's stock worth $147,006,000 after purchasing an additional 367,418 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Trading Up 0.1%

HPQ traded up $0.02 during trading on Monday, hitting $29.36. The company's stock had a trading volume of 8,040,237 shares, compared to its average volume of 8,956,178. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.79. The business's fifty day simple moving average is $26.30 and its 200 day simple moving average is $26.51. The firm has a market capitalization of $27.44 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 2.36 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The computer maker reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The company had revenue of $13.93 billion for the quarter, compared to analyst estimates of $13.69 billion. HP had a negative return on equity of 262.03% and a net margin of 4.83%.HP's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.83 earnings per share. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. As a group, equities research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 3.9%. HP's payout ratio is currently 42.34%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HPQ. Bank of America reduced their price objective on HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Citigroup reduced their price objective on HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research note on Thursday, May 29th. Dbs Bank cut HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Zacks Research raised HP from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, HP currently has a consensus rating of "Hold" and a consensus price target of $29.96.

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.