HP Inc. $HPQ Shares Purchased by Rockland Trust Co.

Rockland Trust Co. raised its stake in HP Inc. (NYSE:HPQ) by 29.0% in the second quarter, HoldingsChannel.com reports. The fund owned 363,947 shares of the computer maker’s stock after purchasing an additional 81,738 shares during the quarter. Rockland Trust Co.’s holdings in HP were worth $7,985,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Garner Asset Management Corp acquired a new stake in shares of HP during the fourth quarter valued at $25,000. Flagship Harbor Advisors LLC purchased a new stake in HP during the 4th quarter worth about $26,000. SHP Wealth Management acquired a new position in HP in the 4th quarter valued at about $26,000. Sound Income Strategies LLC raised its stake in HP by 97.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,312 shares of the computer maker’s stock valued at $27,000 after purchasing an additional 646 shares during the last quarter. Finally, Union Savings Bank purchased a new position in HP in the 4th quarter valued at about $28,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Trading Up 6.5%

Shares of NYSE:HPQ opened at $30.02 on Friday. The firm has a market cap of $27.45 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 4.75 and a beta of 1.17. The stock’s 50-day moving average price is $25.00 and its two-hundred day moving average price is $21.68. HP Inc. has a 12-month low of $17.56 and a 12-month high of $30.06.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. The company had revenue of $14.41 billion during 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 company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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 forecast that HP Inc. will post 2.98 earnings per share for the current fiscal year.

HP Dividend Announcement

The business 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. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.20 annualized dividend and a yield of 4.0%. HP’s dividend payout ratio is 44.28%.

Analysts Set New Price Targets

HPQ has been the topic of several analyst reports. UBS Group raised their price target on shares of HP from $20.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Morgan Stanley boosted 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. Wall Street Zen downgraded shares of HP from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. The Goldman Sachs Group raised their target price on shares of HP from $16.00 to $19.00 and gave the stock a “sell” rating in a research report on Tuesday, June 2nd. Finally, Barclays lifted their target price on shares of HP from $16.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, HP currently has an average rating of “Reduce” and an average price target of $23.33.

Insiders Place Their Bets

In other HP news, insider David P. Mcquarrie sold 10,524 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $27.88, for a total transaction of $293,409.12. Following the transaction, the insider owned 71,152 shares of the company’s stock, valued at $1,983,717.76. This trade represents a 12.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 31,572 shares of company stock worth $847,603 over the last quarter. Company insiders own 0.18% of the company’s stock.

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.