Russell Investments Group Ltd. Decreases Holdings in HP Inc. $HPQ

Key Points

• Russell Investments Group Ltd. has reduced its stake in HP Inc. by 16.2%, selling 117,945 shares and owning 609,563 shares worth approximately $16.9 million after the sale.
• HP recently reported a quarterly earnings per share (EPS) of $0.71, missing the consensus estimate of $0.80, despite a revenue increase of 3.3% compared to the previous year.
• The company announced a quarterly dividend of $0.2894 per share, with an annualized yield of 4.3%, to be paid on October 1st to shareholders recorded by September 10th.

Russell Investments Group Ltd. lessened its holdings in HP Inc. (NYSE:HPQ - Free Report) by 16.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 609,563 shares of the computer maker's stock after selling 117,945 shares during the period. Russell Investments Group Ltd. owned about 0.06% of HP worth $16,891,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HPQ. West Paces Advisors Inc. boosted its position in shares of HP by 3.2% during the 4th quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker's stock worth $314,000 after acquiring an additional 298 shares in the last quarter. Beverly Hills Private Wealth LLC raised its position in shares of HP by 0.8% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 45,729 shares of the computer maker's stock worth $1,492,000 after acquiring an additional 384 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in HP by 2.1% during the first quarter. Bleakley Financial Group LLC now owns 20,262 shares of the computer maker's stock worth $561,000 after purchasing an additional 411 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in HP by 3.9% in the fourth quarter. Rehmann Capital Advisory Group now owns 11,383 shares of the computer maker's stock valued at $371,000 after purchasing an additional 428 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in HP by 13.3% during the first quarter. Private Trust Co. NA now owns 3,684 shares of the computer maker's stock worth $102,000 after purchasing an additional 433 shares in the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of HP from $35.00 to $25.00 and set an "underweight" rating for the company in a report on Thursday, May 29th. Barclays set a $28.00 price objective on HP and gave the stock an "equal weight" rating in a report on Thursday, May 29th. TD Cowen decreased their target price on HP from $38.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. JPMorgan Chase & Co. dropped their price target on HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a research note on Thursday, May 29th. Finally, UBS Group lowered their target price on shares of HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Two research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $29.54.

HP Price Performance

Shares of HPQ stock traded down $0.5040 during mid-day trading on Wednesday, hitting $26.4960. The stock had a trading volume of 6,458,213 shares, compared to its average volume of 8,238,933. The firm has a market cap of $24.89 billion, a PE ratio of 10.23, a PEG ratio of 2.17 and a beta of 1.29. The company's 50-day simple moving average is $25.27 and its 200-day simple moving average is $27.06. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a negative return on equity of 244.99% and a net margin of 4.64%.The firm had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $13.09 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The company's revenue for the quarter was up 3.3% on a year-over-year basis. HP has set its FY 2025 guidance at 3.000-3.300 EPS. Q3 2025 guidance at 0.680-0.800 EPS. On average, 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 given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, September 10th. HP's payout ratio is presently 44.79%.

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.