Rafferty Asset Management LLC Trims Position in HP Inc. $HPQ

Key Points

• Rafferty Asset Management LLC has reduced its stake in HP Inc. by 23.3%, selling 76,302 shares to now hold 251,744 shares, valued at approximately $6.97 million.
• HP recently announced a quarterly dividend of $0.2894, which will be paid on October 1st, representing an annual yield of 4.1%.
• Equities analysts have mixed views on HP's stock, with price targets ranging from $26.00 to $30.00, reflecting adjustments in ratings from firms like JPMorgan and Barclays.

Rafferty Asset Management LLC cut its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 23.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,744 shares of the computer maker's stock after selling 76,302 shares during the period. Rafferty Asset Management LLC's holdings in HP were worth $6,971,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of HPQ. Coldstream Capital Management Inc. lifted its stake in HP by 5.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 14,228 shares of the computer maker's stock valued at $464,000 after acquiring an additional 681 shares in the last quarter. Boothbay Fund Management LLC bought a new position in HP during the 4th quarter valued at $369,000. Beacon Pointe Advisors LLC lifted its stake in HP by 12.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 24,823 shares of the computer maker's stock valued at $810,000 after acquiring an additional 2,799 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in HP by 3.9% during the 4th quarter. Rehmann Capital Advisory Group now owns 11,383 shares of the computer maker's stock valued at $371,000 after acquiring an additional 428 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new position in HP during the 4th quarter valued at $50,957,000. 77.53% of the stock is currently owned by institutional investors.

HP Stock Down 0.9%

HPQ traded down $0.27 during trading hours on Wednesday, hitting $28.67. The stock had a trading volume of 2,066,647 shares, compared to its average volume of 8,355,497. The company's fifty day simple moving average is $25.94 and its 200 day simple moving average is $26.71. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.79. The stock has a market cap of $26.80 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 2.30 and a beta of 1.29.

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

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 4.0%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's payout ratio is presently 42.34%.

Analyst Ratings Changes

Several equities analysts have weighed in on HPQ shares. UBS Group raised their price objective on HP from $26.00 to $29.00 and gave the company a "neutral" rating in a research note on Thursday, August 28th. Citigroup decreased their target price on HP from $29.00 to $27.50 and set a "neutral" rating for the company in a research report on Thursday, May 29th. 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 report on Thursday, May 29th. TD Cowen reduced their price target on shares of HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Finally, Zacks Research upgraded shares of HP from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $29.96.

About HP

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.