Steel Grove Capital Advisors LLC Sells 60,726 Shares of HP Inc. $HPQ

Key Points

• Steel Grove Capital Advisors cut its HP Inc. position by 83.3% in the fourth quarter, selling 60,726 shares and leaving it with 12,177 shares worth about $271,000.
• HP reported better-than-expected second-quarter results, with EPS of $0.86 and revenue of $14.41 billion, both topping analyst estimates and sending the stock higher.
• Despite the earnings beat, HP lowered its full-year profit outlook to $2.15-$2.45 per share from $2.47-$2.77, even as management cited stronger AI PC demand and the Windows 11 refresh cycle.

Steel Grove Capital Advisors LLC lowered its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 83.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,177 shares of the computer maker's stock after selling 60,726 shares during the quarter. Steel Grove Capital Advisors LLC's holdings in HP were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Garner Asset Management Corp bought a new position in shares of HP during the 4th quarter worth approximately $25,000. Flagship Harbor Advisors LLC purchased a new stake in shares of HP during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC increased its stake in shares of HP by 97.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,312 shares of the computer maker's stock worth $27,000 after purchasing an additional 646 shares during the last quarter. Caitlin John LLC purchased a new stake in shares of HP during the 3rd quarter worth approximately $30,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of HP during the 4th quarter worth approximately $32,000. Institutional investors own 77.53% of the company's stock.

HP News Roundup

Here are the key news stories impacting HP this week:

• Positive Sentiment: HP beat second-quarter estimates on both revenue and profit, which is supporting the stock. HP Inc. Reports Fiscal 2026 Second Quarter Results
• Positive Sentiment: Management said AI PC demand and the Windows 11 upgrade cycle boosted sales, suggesting underlying demand is improving. HP beats revenue, profit estimates as AI PC and Windows 11 refresh boost demand
• Neutral Sentiment: HP also raised/updated full-year and Q3 EPS guidance modestly versus consensus, which helps offset some of the uncertainty around the outlook. HP (HPQ) Reports Q2 Earnings: What Key Metrics Have to Say
• Negative Sentiment: Despite the beat, HP cut its full-year profit outlook to $2.15-$2.45 per share from a prior $2.47-$2.77 range, signaling margin or cost pressure ahead. HP Cuts Full-Year Outlook Despite Higher Second-Quarter Profit, Revenue

Analyst Ratings Changes

HPQ has been the subject of several research analyst reports. Weiss Ratings restated a "hold (c-)" rating on shares of HP in a research note on Monday, May 4th. Zacks Research upgraded shares of HP from a "strong sell" rating to a "hold" rating in a research note on Monday, April 6th. Evercore set a $22.00 price target on shares of HP in a research note on Thursday, February 19th. Citigroup decreased their price target on shares of HP from $22.00 to $20.00 and set a "neutral" rating for the company in a research note on Tuesday, February 17th. Finally, Wells Fargo & Company decreased their price target on shares of HP from $25.00 to $18.00 and set an "underweight" rating for the company in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $21.67.

HP Trading Up 4.6%

HP stock opened at $25.55 on Thursday. HP Inc. has a 1-year low of $17.56 and a 1-year high of $29.55. The firm has a market capitalization of $23.37 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 6.75 and a beta of 1.09. The firm has a 50 day simple moving average of $20.29 and a 200 day simple moving average of $21.11.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The computer maker reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.14. The firm had revenue of $14.41 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 4.46% and a negative return on equity of 367.41%. The business's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. On average, equities research analysts forecast that HP Inc. will post 2.85 EPS for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, June 10th. HP's payout ratio is 45.45%.

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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