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

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in HP Inc. (NYSE:HPQ) by 10.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Garner Asset Management Corp acquired a new stake in shares of HP during the fourth quarter worth about $25,000. Flagship Harbor Advisors LLC acquired a new position in shares of HP in the 4th quarter valued at approximately $26,000. SHP Wealth Management bought a new stake in HP during the 4th quarter worth approximately $26,000. Union Savings Bank bought a new stake in HP during the 4th quarter worth approximately $28,000. Finally, DV Equities LLC acquired a new stake in HP during the 4th quarter worth approximately $29,000. 77.53% of the stock is currently owned by institutional investors.

Insider Transactions at HP

In other HP news, insider David P. Mcquarrie sold 21,048 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $29.98, for a total transaction of $631,019.04. Following the sale, the insider directly owned 39,580 shares of the company’s stock, valued at $1,186,608.40. The trade was a 34.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 52,620 shares of company stock valued at $1,478,622. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of HP from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Barclays increased their price objective on shares of HP from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, May 28th. Wells Fargo & Company boosted their price objective on shares of HP from $18.00 to $20.00 and gave the company an “underweight” rating in a research report on Thursday, May 28th. Wall Street Zen lowered shares of HP from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, UBS Group increased their target price on HP from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $23.50.

HP Stock Up 6.9%

NYSE:HPQ opened at $31.31 on Friday. HP Inc. has a twelve month low of $17.56 and a twelve month high of $32.19. The business has a 50 day moving average price of $25.21 and a two-hundred day moving average price of $21.98. The company has a market cap of $28.64 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 4.94 and a beta of 1.17.

HP (NYSE:HPQ) last posted 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 company had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The firm’s revenue was up 9.0% compared to the same quarter last year. 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. As a group, analysts anticipate that HP Inc. will post 2.98 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently declared 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. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date is Wednesday, September 9th. HP’s payout ratio is presently 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.