Patriot Financial Group Insurance Agency LLC Purchases Shares of 50,636 HP Inc. $HPQ

Key Points

• Patriot Financial Group Insurance Agency LLC opened a new position in HP Inc. during the first quarter, buying 50,636 shares worth about $973,000.
• HP reported stronger-than-expected quarterly results, with EPS of $0.86 versus $0.72 expected and revenue of $14.41 billion, up 9% year over year.
• The company declared a quarterly dividend of $0.30 per share, implying a 5.3% annualized yield, while analysts currently have a consensus rating of “Reduce” with an average price target of $23.33.

Patriot Financial Group Insurance Agency LLC acquired a new position in shares of HP Inc. (NYSE:HPQ - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 50,636 shares of the computer maker's stock, valued at approximately $973,000.

Several other large investors have also made changes to their positions in HPQ. Maridea Wealth Management LLC purchased a new stake in HP during the first quarter valued at about $194,000. Louisiana State Employees Retirement System purchased a new position in shares of HP in the 1st quarter worth about $899,000. OP Asset Management Ltd acquired a new position in shares of HP in the 1st quarter valued at about $1,757,000. Apella Capital LLC lifted its stake in shares of HP by 15.9% in the 1st quarter. Apella Capital LLC now owns 15,366 shares of the computer maker's stock valued at $305,000 after purchasing an additional 2,107 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of HP by 193.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 207,578 shares of the computer maker's stock worth $3,988,000 after purchasing an additional 136,741 shares during the period. 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 10,524 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $24.68, for a total value of $259,732.32. Following the completion of the transaction, the insider directly owned 92,200 shares of the company's stock, valued at $2,275,496. This represents a 10.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.18% of the stock is owned by corporate insiders.

HP Stock Performance

HP stock opened at $22.71 on Tuesday. The firm has a market capitalization of $20.77 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 3.86 and a beta of 1.16. HP Inc. has a one year low of $17.56 and a one year high of $29.65. The stock's 50 day moving average price is $22.96 and its 200 day moving average price is $21.15.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.14. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The company had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter last year, the company earned $0.71 earnings per share. HP's revenue for the quarter was up 9.0% on a year-over-year basis. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. On average, analysts forecast that HP Inc. will post 2.98 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 7th. Investors of record on Wednesday, September 9th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.20 annualized dividend and a yield of 5.3%. HP's payout ratio is 44.28%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HPQ. UBS Group increased their target price on shares of HP from $20.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, May 28th. Zacks Research raised shares of HP from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. TD Cowen boosted their price objective on shares of HP from $20.00 to $26.00 and gave the stock a "hold" rating in a research note on Thursday, May 28th. Morgan Stanley increased their price objective on shares of HP from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday, May 28th. Finally, The Goldman Sachs Group raised their target price on shares of HP from $16.00 to $19.00 and gave the company a "sell" rating in a research note on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $23.33.

HP Profile

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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