Meeder Asset Management Inc. Invests $566,000 in HP Inc. $HPQ

Meeder Asset Management Inc. bought a new stake in HP Inc. (NYSE:HPQ) during the second quarter, HoldingsChannel reports. The fund bought 25,780 shares of the computer maker’s stock, valued at approximately $566,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Citizens Financial Group Inc. RI purchased a new position in HP during the 2nd quarter worth approximately $626,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of HP in the second quarter worth $370,000. Auxano Advisors LLC purchased a new stake in HP in the second quarter valued at $250,000. MidFirst Bank purchased a new stake in HP in the second quarter valued at $350,000. Finally, BlackRock Inc. acquired a new stake in HP during the 2nd quarter worth about $2,357,757,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Transactions at HP

In related news, insider David P. Mcquarrie sold 21,048 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $29.98, for a total value of $631,019.04. Following the completion of the sale, the insider owned 39,580 shares of the company’s stock, valued at approximately $1,186,608.40. The trade was a 34.72% decrease in their position. The sale 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. Over the last 90 days, insiders have sold 52,620 shares of company stock valued at $1,478,622. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen lowered HP from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings raised HP from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 6th. TD Cowen lifted their price target on HP from $20.00 to $26.00 and gave the company a “hold” rating in a research report on Thursday, May 28th. Wells Fargo & Company upped their price objective on HP from $18.00 to $20.00 and gave the stock an “underweight” rating in a research report on Thursday, May 28th. Finally, UBS Group raised their price objective 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. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, HP currently has a consensus rating of “Reduce” and an average target price of $23.50.

HP Stock Up 2.2%

HPQ stock opened at $30.05 on Wednesday. HP Inc. has a 52-week low of $17.56 and a 52-week high of $32.19. The firm has a market cap of $27.48 billion, a P/E ratio of 11.09, a PEG ratio of 5.08 and a beta of 1.17. The company’s 50-day simple moving average is $25.49 and its 200-day simple moving average is $22.20.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $13.99 billion. HP had a negative return on equity of 581.36% and a net margin of 4.45%.HP’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. On average, analysts anticipate that HP Inc. will post 2.98 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, September 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.0%. HP’s dividend payout ratio (DPR) is 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.