Sumitomo Mitsui Trust Group Inc. Sells 54,480 Shares of HP Inc. $HPQ

Key Points

• Sumitomo Mitsui Trust Group trimmed its HP Inc. stake by 2.5% in the first quarter, selling 54,480 shares and ending with 2.14 million shares worth about $41.1 million.
• HP reported better-than-expected quarterly results, posting EPS of $0.86 versus $0.72 expected and revenue of $14.41 billion, up 9% year over year.
• The company also announced a quarterly dividend of $0.30 per share payable Oct. 7, while analysts currently have a cautious stance with a consensus rating of “Reduce” and an average price target of $23.33.

Sumitomo Mitsui Trust Group Inc. reduced its stake in HP Inc. (NYSE:HPQ - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,141,897 shares of the computer maker's stock after selling 54,480 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of HP worth $41,146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Garner Asset Management Corp acquired a new stake in shares of HP during the 4th quarter worth $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of HP during the 4th quarter worth approximately $26,000. SHP Wealth Management bought a new stake in shares of HP during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC boosted its position 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 acquiring an additional 646 shares in the last quarter. Finally, Union Savings Bank bought a new position in HP in the fourth quarter valued at approximately $28,000. Institutional investors own 77.53% of the company's stock.

Insider Activity

In other news, insider David P. Mcquarrie sold 10,524 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $24.68, for a total value of $259,732.32. Following the completion of the sale, the insider owned 92,200 shares in the company, valued at $2,275,496. This represents a 10.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.18% of the stock is currently owned by insiders.

HP Trading Up 0.1%

Shares of HPQ stock opened at $24.23 on Monday. The firm has a fifty day simple moving average of $23.46 and a two-hundred day simple moving average of $21.06. HP Inc. has a 12 month low of $17.56 and a 12 month high of $29.65. The firm has a market capitalization of $22.16 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 4.09 and a beta of 1.19.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (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 analysts' expectations of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The business's revenue was up 9.0% on a year-over-year basis. During the same period last year, the company 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. On average, equities analysts predict 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. Shareholders of record on Wednesday, September 9th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, September 9th. HP's payout ratio is currently 44.28%.

Analysts Set New Price Targets

A number of brokerages have weighed in on HPQ. Bank of America raised their target price on HP from $16.00 to $18.00 and gave the company an "underperform" rating in a report on Thursday, May 28th. Zacks Research upgraded HP from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. UBS Group boosted their target price on HP from $20.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, May 28th. Finally, Barclays increased their target price 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 analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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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