Sumitomo Mitsui DS Asset Management Company Ltd Sells 20,429 Shares of HP Inc. $HPQ

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in shares of HP Inc. (NYSE:HPQ) by 10.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 169,425 shares of the computer maker’s stock after selling 20,429 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in HP were worth $3,717,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. North Growth Management Ltd. increased its stake in shares of HP by 0.7% during the 2nd quarter. North Growth Management Ltd. now owns 835,000 shares of the computer maker’s stock worth $18,325,000 after purchasing an additional 6,000 shares during the last quarter. Summitry LLC acquired a new stake in HP in the 2nd quarter valued at about $278,000. Envestnet Portfolio Solutions Inc. lifted its stake in HP by 10.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 102,224 shares of the computer maker’s stock valued at $2,243,000 after purchasing an additional 9,401 shares during the last quarter. IFP Advisors Inc grew its holdings in HP by 49.1% during the second quarter. IFP Advisors Inc now owns 36,510 shares of the computer maker’s stock worth $801,000 after purchasing an additional 12,026 shares during the period. Finally, Merit Financial Group LLC increased its position in HP by 73.9% during the second quarter. Merit Financial Group LLC now owns 66,354 shares of the computer maker’s stock worth $1,456,000 after buying an additional 28,190 shares during the last quarter. 77.53% of the stock is owned by institutional investors.

HP Stock Up 6.9%

Shares of HPQ stock opened at $31.31 on Friday. HP Inc. has a 12-month low of $17.56 and a 12-month high of $32.19. The company has a market capitalization of $28.64 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 4.94 and a beta of 1.17. The firm has a 50 day moving average price of $25.21 and a two-hundred day moving average price of $21.98.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 27th. The computer maker reported $0.86 EPS for the quarter, beating the consensus estimate of $0.72 by $0.14. The company had revenue of $14.41 billion for 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 firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business 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. As a group, research analysts expect 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 issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, September 9th. HP’s dividend payout ratio is currently 44.28%.

Insider Buying and Selling

In other HP news, insider David P. Mcquarrie sold 21,048 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $29.98, for a total transaction of $631,019.04. Following the transaction, the insider owned 39,580 shares in the company, valued at $1,186,608.40. This trade represents a 34.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 52,620 shares of company stock valued at $1,478,622. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HPQ shares. Weiss Ratings upgraded HP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 6th. UBS Group lifted 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. Barclays boosted their target price on HP from $16.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, May 28th. Wells Fargo & Company raised their price target on HP from $18.00 to $20.00 and gave the company an “underweight” rating in a report on Thursday, May 28th. 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 analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $23.50.

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.