Royal Bank of Canada Has $113.18 Million Stock Holdings in HP Inc. $HPQ

Key Points

• The Royal Bank of Canada sold 2,058,415 shares of HP Inc., reducing its stake by 33.5%, now holding about 4.1 million shares valued at approximately $113 million.
• HP reported earnings of $0.75 per share for the last quarter, meeting expectations, with revenue increasing 3.1% year-over-year to $13.93 billion.
• The company has declared a quarterly dividend of $0.2894 per share, yielding 4.0%, with an upcoming payout date of October 1st for shareholders of record by September 10th.

Royal Bank of Canada reduced its stake in HP Inc. (NYSE:HPQ - Free Report) by 33.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,087,348 shares of the computer maker's stock after selling 2,058,415 shares during the period. Royal Bank of Canada owned approximately 0.43% of HP worth $113,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in HPQ. WPG Advisers LLC purchased a new position in HP during the first quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in HP during the first quarter worth about $35,000. CoreCap Advisors LLC grew its stake in HP by 71.9% during the fourth quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock worth $46,000 after buying an additional 587 shares during the period. Iron Horse Wealth Management LLC acquired a new stake in shares of HP in the 1st quarter worth about $39,000. Finally, Financial Freedom LLC boosted its holdings in shares of HP by 141.4% in the first quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after buying an additional 878 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on HPQ. Barclays decreased their target price on HP from $28.00 to $27.00 and set an "equal weight" rating for the company in a research note on Thursday, August 28th. Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. UBS Group boosted their price target on shares of HP from $26.00 to $29.00 and gave the stock a "neutral" rating in a research note on Thursday, August 28th. Morgan Stanley decreased their price target on shares of HP from $29.00 to $26.00 and set an "equal weight" rating for the company in a report on Thursday, May 29th. Finally, Wells Fargo & Company reduced their target price on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $29.96.

HP Stock Up 0.0%

Shares of NYSE:HPQ traded up $0.01 during trading on Monday, reaching $29.35. 4,859,751 shares of the company traded hands, compared to its average volume of 8,391,018. The firm has a market capitalization of $27.43 billion, a PE ratio of 10.71, a PEG ratio of 2.36 and a beta of 1.29. The company's 50 day moving average is $26.20 and its two-hundred day moving average is $26.54. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last announced 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. The company had revenue of $13.93 billion during the quarter, compared to analysts' expectations of $13.69 billion. HP had a negative return on equity of 262.03% and a net margin of 4.83%.The firm's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. As a group, research analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio (DPR) is presently 42.34%.

HP Company 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.