HP Inc. $HPQ Shares Sold by Royal Bank of Canada

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 trimmed its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 33.5% in the first quarter, according to its most recent filing with the 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 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. WPG Advisers LLC acquired 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 $35,000. CoreCap Advisors LLC lifted its position 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 purchasing an additional 587 shares during the period. Iron Horse Wealth Management LLC bought a new position in HP in the 1st quarter valued at approximately $39,000. Finally, Financial Freedom LLC increased its position in HP by 141.4% during the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock valued at $42,000 after purchasing an additional 878 shares during the period. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Trading Down 1.0%

HP stock traded down $0.29 during mid-day trading on Tuesday, hitting $29.07. The company's stock had a trading volume of 3,298,588 shares, compared to its average volume of 8,381,583. The firm has a market capitalization of $27.17 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 2.36 and a beta of 1.29. The stock's fifty day moving average is $26.30 and its two-hundred day moving average is $26.51. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.79.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The computer maker reported $0.75 earnings per share for the quarter, meeting analysts' consensus estimates of $0.75. The company had revenue of $13.93 billion for 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%.HP's quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $0.83 earnings per share. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. On average, equities analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HPQ shares. Barclays cut their target price on HP from $28.00 to $27.00 and set an "equal weight" rating on the stock in a report on Thursday, August 28th. KGI Securities assumed coverage on HP in a report on Thursday, May 29th. They set a "neutral" rating for the company. Citigroup decreased their price objective on HP from $29.00 to $27.50 and set a "neutral" rating for the company in a report on Thursday, May 29th. Bank of America dropped their price objective on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Finally, Dbs Bank downgraded HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $29.96.

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.