HP Inc. $HPQ Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its holdings in HP Inc. by 1.5%, now owning 12,654,266 shares worth approximately $350.4 million.
• HP reported a quarterly EPS of $0.71, falling short of analysts' expectations of $0.80, while revenue increased 3.3% year-over-year to $13.22 billion.
• The company declared a quarterly dividend of $0.2894, resulting in an annual yield of 4.4%, with a payout ratio currently at 44.4%.

Northern Trust Corp decreased its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 12,654,266 shares of the computer maker's stock after selling 190,529 shares during the period. Northern Trust Corp owned 1.34% of HP worth $350,397,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Brooklyn Investment Group raised its stake in HP by 34.0% during the first quarter. Brooklyn Investment Group now owns 5,693 shares of the computer maker's stock worth $158,000 after purchasing an additional 1,445 shares during the period. Versor Investments LP raised its stake in HP by 88.5% during the first quarter. Versor Investments LP now owns 88,800 shares of the computer maker's stock worth $2,459,000 after purchasing an additional 41,700 shares during the period. FCG Investment Co raised its stake in HP by 95.3% during the first quarter. FCG Investment Co now owns 19,621 shares of the computer maker's stock worth $543,000 after purchasing an additional 9,574 shares during the period. Freestone Capital Holdings LLC raised its stake in HP by 9.0% during the first quarter. Freestone Capital Holdings LLC now owns 89,185 shares of the computer maker's stock worth $2,470,000 after purchasing an additional 7,401 shares during the period. Finally, Raymond James Financial Inc. raised its stake in HP by 1.0% during the first quarter. Raymond James Financial Inc. now owns 1,130,091 shares of the computer maker's stock worth $31,292,000 after purchasing an additional 11,733 shares during the period. Hedge funds and other institutional investors own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley cut their price target on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 29th. KGI Securities assumed coverage on shares of HP in a research note on Thursday, May 29th. They set a "neutral" rating on the stock. Barclays set a $28.00 price target on shares of HP and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Bank of America dropped their price objective on shares of HP from $35.00 to $33.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Finally, Evercore ISI dropped their price objective on shares of HP from $40.00 to $32.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, HP currently has an average rating of "Hold" and a consensus price target of $29.54.

HP Stock Up 4.3%

Shares of HP stock traded up $1.1450 during trading hours on Friday, hitting $27.7250. The company's stock had a trading volume of 6,571,840 shares, compared to its average volume of 7,432,687. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.79. The business has a fifty day moving average of $25.41 and a 200 day moving average of $26.99. The company has a market capitalization of $26.04 billion, a PE ratio of 10.70, a P/E/G ratio of 2.25 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The firm had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. HP's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 earnings per share. HP has set its FY 2025 guidance at 3.000-3.300 EPS. Q3 2025 guidance at 0.680-0.800 EPS. On average, sell-side analysts anticipate 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. Investors of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's dividend payout ratio (DPR) is presently 44.79%.

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.