Korea Investment CORP Takes $5.87 Million Position in HP Inc. $HPQ

Korea Investment CORP bought a new stake in HP Inc. (NYSE:HPQ) in the second quarter, Holdings Channel.com reports. The institutional investor bought 267,559 shares of the computer maker’s stock, valued at approximately $5,870,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in HP in the second quarter valued at approximately $2,357,757,000. DNB Asset Management AS raised its position in shares of HP by 242.2% during the fourth quarter. DNB Asset Management AS now owns 10,594,630 shares of the computer maker’s stock worth $236,048,000 after purchasing an additional 7,498,202 shares during the period. Norges Bank bought a new position in shares of HP in the 4th quarter worth $149,309,000. Deutsche Bank AG bought a new position in shares of HP in the 2nd quarter worth $140,172,000. Finally, Arrowstreet Capital Limited Partnership grew its position in HP by 186.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,378,723 shares of the computer maker’s stock valued at $228,153,000 after purchasing an additional 5,449,691 shares during the period. Institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HPQ. Bank of America upped their price objective on shares of HP from $16.00 to $18.00 and gave the stock an “underperform” rating in a report on Thursday, May 28th. Citigroup lifted their price objective on shares of HP from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. Weiss Ratings raised shares of HP from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 6th. Evercore set a $32.00 price target on shares of HP in a research report on Monday. Finally, Wall Street Zen upgraded HP from a “hold” rating to a “buy” rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $24.17.

Insider Activity at HP

In related news, insider David P. Mcquarrie sold 21,048 shares of HP 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 sale, the insider directly owned 39,580 shares in the company, valued at approximately $1,186,608.40. This trade represents a 34.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,620 shares of company stock worth $1,478,622 over the last three months. Company insiders own 0.18% of the company’s stock.

HP Price Performance

HPQ opened at $28.57 on Tuesday. HP Inc. has a fifty-two week low of $17.56 and a fifty-two week high of $32.19. The company’s 50-day moving average is $25.86 and its 200 day moving average is $22.49. The firm has a market capitalization of $26.13 billion, a P/E ratio of 10.54, a PEG ratio of 5.01 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 EPS for the quarter, beating the consensus estimate of $0.72 by $0.14. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The firm had revenue of $14.41 billion during the quarter, compared to analyst estimates of $13.99 billion. During the same quarter last year, the business posted $0.71 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. 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 expect that HP Inc. will post 2.98 earnings per share for the current year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 9th. HP’s dividend payout ratio (DPR) is presently 44.28%.

HP Company 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.