The Manufacturers Life Insurance Company Cuts Stake in HP Inc. $HPQ

The Manufacturers Life Insurance Company cut its holdings in shares of HP Inc. (NYSE:HPQ) by 3.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 694,407 shares of the computer maker’s stock after selling 23,464 shares during the period. The Manufacturers Life Insurance Company’s holdings in HP were worth $13,340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SummitTX Capital L.P. purchased a new stake in shares of HP during the first quarter worth $3,804,000. OMERS ADMINISTRATION Corp boosted its holdings in HP by 26.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 151,593 shares of the computer maker’s stock valued at $2,912,000 after purchasing an additional 32,129 shares during the period. Lombard Odier Asset Management Switzerland SA grew its stake in HP by 48.5% during the 1st quarter. Lombard Odier Asset Management Switzerland SA now owns 503,404 shares of the computer maker’s stock worth $9,670,000 after purchasing an additional 164,500 shares in the last quarter. Waverly Advisors LLC increased its holdings in HP by 10.4% during the 1st quarter. Waverly Advisors LLC now owns 25,225 shares of the computer maker’s stock worth $485,000 after purchasing an additional 2,386 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in HP by 54.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,154,680 shares of the computer maker’s stock valued at $22,181,000 after purchasing an additional 408,830 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

In other news, insider David P. Mcquarrie sold 10,524 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $27.98, for a total value of $294,461.52. Following the completion of the sale, the insider directly owned 81,676 shares of the company’s stock, valued at approximately $2,285,294.48. This represents a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.18% of the company’s stock.

HP Stock Performance

Shares of HPQ stock opened at $27.32 on Monday. The stock’s 50-day moving average is $24.69 and its two-hundred day moving average is $21.41. The firm has a market cap of $24.99 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 4.60 and a beta of 1.17. HP Inc. has a 1 year low of $17.56 and a 1 year high of $29.65.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.14. The business had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The business’s quarterly revenue 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. As a group, 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, October 7th. Shareholders of record on Wednesday, September 9th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $1.20 dividend on an annualized basis and a yield of 4.4%. HP’s payout ratio is currently 44.28%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup lifted their price objective on HP from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. The Goldman Sachs Group lifted 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, June 2nd. Morgan Stanley increased 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 upgraded shares of HP from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of HP from $22.00 to $26.00 and gave the stock a “neutral” 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus 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.