SEB Asset Management AB Acquires Shares of 434,210 HP Inc. $HPQ

Key Points

• SEB Asset Management AB opened a new position in HP Inc., buying 434,210 shares worth about $8.34 million in the first quarter.
• HP reported better-than-expected quarterly results, with EPS of $0.86 versus estimates of $0.72 and revenue of $14.41 billion, up 9% year over year.
• The company declared a quarterly dividend of $0.30 per share, equal to an annualized yield of about 4.8%; analysts currently have an average rating of “Reduce” with a target price of $23.33.

SEB Asset Management AB bought a new position in shares of HP Inc. (NYSE:HPQ - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 434,210 shares of the computer maker's stock, valued at approximately $8,341,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in HP by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 132,094,388 shares of the computer maker's stock worth $2,943,063,000 after buying an additional 2,435,634 shares during the period. State Street Corp grew its stake in HP by 5.3% in the 3rd quarter. State Street Corp now owns 52,703,639 shares of the computer maker's stock valued at $1,450,245,000 after buying an additional 2,651,623 shares in the last quarter. Geode Capital Management LLC raised its holdings in HP by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 27,313,924 shares of the computer maker's stock valued at $607,373,000 after acquiring an additional 274,033 shares during the period. Invesco Ltd. lifted its position in shares of HP by 31.7% during the fourth quarter. Invesco Ltd. now owns 15,236,428 shares of the computer maker's stock worth $339,468,000 after acquiring an additional 3,671,511 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of HP by 50.2% during the fourth quarter. AQR Capital Management LLC now owns 13,582,142 shares of the computer maker's stock worth $302,610,000 after acquiring an additional 4,542,339 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

Insider Activity at HP

In related news, insider David P. Mcquarrie sold 10,524 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $24.68, for a total transaction of $259,732.32. Following the transaction, the insider directly owned 92,200 shares of the company's stock, valued at approximately $2,275,496. This trade represents a 10.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.18% of the company's stock.

HP Stock Performance

NYSE:HPQ opened at $24.79 on Wednesday. The stock has a fifty day moving average of $23.88 and a 200 day moving average of $21.13. The firm has a market capitalization of $22.67 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 4.09 and a beta of 1.19. HP Inc. has a 52-week low of $17.56 and a 52-week high of $29.65.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm posted $0.71 EPS. The firm's revenue was up 9.0% compared to the same quarter last year. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. Equities analysts forecast that HP Inc. will post 2.98 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Wednesday, September 9th. HP's dividend payout ratio is presently 44.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen cut HP from a "buy" rating to a "hold" rating in a research report on Saturday. Bank of America increased their price objective on HP from $16.00 to $18.00 and gave the stock an "underperform" rating in a report on Thursday, May 28th. TD Cowen lifted their target price on HP from $20.00 to $26.00 and gave the company a "hold" rating in a report on Thursday, May 28th. Citigroup upped their price target on HP from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, May 28th. Finally, Barclays increased their price target on shares of HP from $16.00 to $19.00 and gave the stock an "underweight" rating in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, HP currently has an average rating of "Reduce" and an average target price of $23.33.

About HP

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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