Westpac Banking Corp Reduces Stock Position in HP Inc. $HPQ

Key Points

• Westpac Banking Corp cut its HP Inc. stake by 64.7% in the fourth quarter, selling 87,701 shares and ending with 47,785 shares valued at about $1.07 million.
• HP’s latest quarterly results beat expectations, posting $0.86 EPS on $14.41 billion in revenue, with revenue up 9% year over year. The company also issued FY 2026 guidance of $2.90 to $3.10 EPS.
• Analysts remain cautious on HP: the stock has a consensus rating of “Reduce” with an average price target of $23.33, even as the shares recently opened at $26.05 and pay a quarterly dividend of $0.30 per share.

Westpac Banking Corp lowered its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 64.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,785 shares of the computer maker's stock after selling 87,701 shares during the period. Westpac Banking Corp's holdings in HP were worth $1,065,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HPQ. Baird Financial Group Inc. lifted its position in shares of HP by 13.1% in the 2nd quarter. Baird Financial Group Inc. now owns 114,169 shares of the computer maker's stock worth $2,793,000 after purchasing an additional 13,265 shares during the period. Gamco Investors INC. ET AL lifted its position in shares of HP by 2.7% in the 2nd quarter. Gamco Investors INC. ET AL now owns 21,230 shares of the computer maker's stock worth $519,000 after purchasing an additional 551 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of HP by 6.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 145,337 shares of the computer maker's stock worth $3,555,000 after purchasing an additional 8,779 shares during the period. Treasurer of the State of North Carolina lifted its position in shares of HP by 70.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 731,574 shares of the computer maker's stock worth $17,894,000 after purchasing an additional 302,578 shares during the period. Finally, HUB Investment Partners LLC purchased a new stake in shares of HP in the 2nd quarter worth about $233,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America raised their target price on shares of HP from $16.00 to $18.00 and gave the stock an "underperform" rating in a research report on Thursday, May 28th. Evercore set a $22.00 price target on shares of HP in a research note on Thursday, February 19th. The Goldman Sachs Group increased their price target on shares of HP from $16.00 to $19.00 and gave the stock a "sell" rating in a research note on Tuesday. Weiss Ratings reiterated a "hold (c-)" rating on shares of HP in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of HP from $22.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, HP has a consensus rating of "Reduce" and an average price target of $23.33.

HP Stock Performance

NYSE:HPQ opened at $26.05 on Thursday. The firm has a market cap of $23.82 billion, a P/E ratio of 9.61, a P/E/G ratio of 4.60 and a beta of 1.17. HP Inc. has a fifty-two week low of $17.56 and a fifty-two week high of $29.65. The firm has a 50-day simple moving average of $21.14 and a two-hundred day simple moving average of $21.17.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.14. The business had revenue of $14.41 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. HP's revenue was up 9.0% compared to the same quarter last year. During the same period last 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 predict that HP Inc. will post 2.98 EPS for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Wednesday, June 10th. HP's dividend payout ratio (DPR) is currently 44.28%.

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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