State of Alaska Department of Revenue Buys 75,895 Shares of HP Inc. $HPQ

Key Points

• The State of Alaska Department of Revenue increased its stake in HP Inc. by 36.0%, acquiring an additional 75,895 shares in the second quarter, bringing its total holdings to 286,760 shares worth approximately $7.01 million.
• In recent analyst coverage, Zacks Research upgraded HP to a "hold" rating, while JPMorgan Chase & Co. raised its price target for the stock from $27.00 to $30.00.
• HP reported earnings per share of $0.75 for the recent quarter, meeting analysts' expectations, and achieved revenue of $13.93 billion, which was above forecasted estimates.

State of Alaska Department of Revenue boosted its stake in HP Inc. (NYSE:HPQ - Free Report) by 36.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,760 shares of the computer maker's stock after acquiring an additional 75,895 shares during the period. State of Alaska Department of Revenue's holdings in HP were worth $7,013,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Patton Fund Management Inc. bought a new stake in HP in the second quarter valued at approximately $213,000. Kathmere Capital Management LLC boosted its holdings in HP by 14.1% in the second quarter. Kathmere Capital Management LLC now owns 17,454 shares of the computer maker's stock valued at $427,000 after acquiring an additional 2,163 shares during the last quarter. Congress Asset Management Co. bought a new position in shares of HP during the 2nd quarter worth approximately $622,000. Dakota Wealth Management boosted its holdings in shares of HP by 8.1% during the 2nd quarter. Dakota Wealth Management now owns 27,112 shares of the computer maker's stock worth $663,000 after buying an additional 2,025 shares in the last quarter. Finally, Maridea Wealth Management LLC bought a new position in shares of HP during the 2nd quarter worth approximately $354,000. 77.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on HPQ. Zacks Research upgraded HP from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Sanford C. Bernstein began coverage on HP in a report on Monday, September 15th. They set a "market perform" rating and a $30.00 price target on the stock. Barclays cut their price target on HP from $28.00 to $27.00 and set an "equal weight" rating on the stock in a report on Thursday, August 28th. JPMorgan Chase & Co. increased their price target on HP from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Finally, Evercore ISI restated an "in-line" rating and set a $29.00 price target on shares of HP in a report on Wednesday, September 10th. One investment analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $29.38.

HP Stock Down 0.5%

Shares of NYSE:HPQ opened at $26.71 on Monday. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.79. The stock's 50 day moving average is $27.02 and its 200-day moving average is $26.23. The firm has a market capitalization of $24.97 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 2.15 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Wednesday, August 27th. The computer maker reported $0.75 earnings per share for the quarter, hitting analysts' consensus estimates of $0.75. The company had revenue of $13.93 billion for the quarter, compared to analyst estimates of $13.69 billion. HP had a negative return on equity of 262.03% and a net margin of 4.83%.HP's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 earnings per share. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. Equities research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP 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.

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