South Dakota Investment Council Grows Position in HP Inc. $HPQ

Key Points

• Institutional ownership increased: South Dakota Investment Council raised its HP stake by 18.5% to 715,294 shares, while hedge funds and other institutions collectively own 77.53% of the company.
• HP reported a strong quarter: Quarterly earnings of $0.86 per share exceeded estimates of $0.72, while revenue rose 9% year over year to $14.41 billion. The company also declared a quarterly dividend of $0.30, equivalent to a 4.2% annualized yield.
• Analyst sentiment remains cautious: HP has an average “Reduce” rating and an average price target of $23.33, below the stock’s reported opening price of $28.42.

South Dakota Investment Council grew its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 18.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 715,294 shares of the computer maker's stock after purchasing an additional 111,475 shares during the quarter. South Dakota Investment Council owned about 0.08% of HP worth $13,741,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of HPQ. Vanguard Group Inc. lifted its holdings in HP by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 132,094,388 shares of the computer maker's stock worth $2,943,063,000 after purchasing an additional 2,435,634 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in HP by 8.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,981,864 shares of the computer maker's stock worth $45,063,000 after purchasing an additional 157,464 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in HP during the 4th quarter valued at about $31,899,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of HP by 5.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,977,716 shares of the computer maker's stock valued at $43,747,000 after buying an additional 103,175 shares during the period. Finally, BNP Paribas increased its position in shares of HP by 8,978.0% during the fourth quarter. BNP Paribas now owns 129,725 shares of the computer maker's stock valued at $2,891,000 after buying an additional 128,296 shares during the period. Hedge funds and other institutional investors own 77.53% of the company's stock.

Insider Activity at HP

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

HP Trading Up 0.5%

Shares of HPQ opened at $28.42 on Thursday. The company has a market cap of $25.99 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 4.77 and a beta of 1.19. The stock has a 50-day moving average price of $24.54 and a 200-day moving average price of $21.33. HP Inc. has a 12-month low of $17.56 and a 12-month high of $29.65.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 EPS for the quarter, topping the consensus estimate of $0.72 by $0.14. The company had revenue of $14.41 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 581.36% and a net margin of 4.45%.HP's revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 earnings per share. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. As a group, analysts predict that HP Inc. will post 2.98 earnings per share for the current year.

HP Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.2%. HP's dividend payout ratio is presently 44.28%.

Analysts Set New Price Targets

HPQ has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of HP from $17.00 to $19.00 and gave the company an "underweight" rating in a research report on Thursday, May 28th. Zacks Research raised shares of HP from a "strong sell" rating to a "hold" rating in a report on Monday, April 6th. Weiss Ratings upgraded shares of HP from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 6th. Bank of America raised their price target on shares of HP from $16.00 to $18.00 and gave the company an "underperform" rating in a report on Thursday, May 28th. Finally, Barclays boosted their price target on shares of HP from $16.00 to $19.00 and gave the company an "underweight" rating in a research report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, HP presently has an average rating of "Reduce" and an average target price of $23.33.

HP Profile

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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