Bank of New York Mellon Corp Reduces Position in HP Inc. $HPQ

Bank of New York Mellon Corp cut its holdings in HP Inc. (NYSE:HPQ) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,083,879 shares of the computer maker’s stock after selling 127,466 shares during the period. Bank of New York Mellon Corp’s holdings in HP were worth $97,661,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other HP news, insider David P. Mcquarrie sold 10,524 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $24.68, for a total transaction of $259,732.32. Following the completion of the transaction, the insider directly owned 92,200 shares in the company, valued at approximately $2,275,496. This trade represents a 10.24% decrease in their position. The transaction 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. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on HPQ shares. JPMorgan Chase & Co. lifted their target price on HP from $22.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Weiss Ratings upgraded HP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 6th. Wall Street Zen lowered HP from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company boosted their price objective on HP from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Thursday, May 28th. Finally, Bank of America increased their price objective on HP from $16.00 to $18.00 and gave the company an “underperform” rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, HP has an average rating of “Reduce” and an average price target of $23.33.

HP Trading Down 2.4%

NYSE HPQ opened at $24.25 on Tuesday. The stock has a market capitalization of $22.18 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 4.19 and a beta of 1.19. The business’s 50 day moving average is $23.81 and its two-hundred day moving average is $21.11. HP Inc. has a 12-month low of $17.56 and a 12-month high of $29.65.

HP (NYSE:HPQ) last announced 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 analysts’ expectations of $13.99 billion. During the same quarter last year, the business earned $0.71 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. Equities analysts forecast that HP Inc. will post 2.98 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, September 9th. HP’s dividend payout ratio is presently 44.28%.

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.