Bank of New York Mellon Corp Sells 1,627,325 Shares of HP Inc. $HPQ

Bank of New York Mellon Corp lessened its holdings in HP Inc. (NYSE:HPQ) by 23.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,211,345 shares of the computer maker’s stock after selling 1,627,325 shares during the quarter. Bank of New York Mellon Corp’s holdings in HP were worth $116,109,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Applied Finance Capital Management LLC raised its holdings in shares of HP by 8.4% in the third quarter. Applied Finance Capital Management LLC now owns 1,217,071 shares of the computer maker’s stock worth $33,139,000 after buying an additional 94,494 shares during the period. Vanguard Group Inc. boosted its holdings in HP by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 132,094,388 shares of the computer maker’s stock valued at $2,943,063,000 after acquiring an additional 2,435,634 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in HP by 8.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,981,864 shares of the computer maker’s stock valued at $45,063,000 after acquiring an additional 157,464 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in HP in the third quarter worth $22,601,000. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in HP in the fourth quarter worth $31,899,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays boosted their target price on shares of HP from $16.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, May 28th. TD Cowen lifted their price objective on shares of HP from $20.00 to $26.00 and gave the company a “hold” rating in a report 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. Bank of America upped their target price on shares of HP from $16.00 to $18.00 and gave the stock an “underperform” rating in a research note on Thursday, May 28th. Finally, Evercore set a $22.00 target price on shares of HP in a research report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $23.33.

HP Stock Performance

Shares of HPQ opened at $25.59 on Monday. The company has a 50 day moving average price of $21.41 and a 200-day moving average price of $21.20. HP Inc. has a fifty-two week low of $17.56 and a fifty-two week high of $29.65. The stock has a market capitalization of $23.40 billion, a PE ratio of 9.44, a PEG ratio of 4.32 and a beta of 1.16.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.14. The company had revenue of $14.41 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. HP’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $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. Equities research analysts forecast that HP Inc. will post 2.98 EPS for the current year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, June 10th. 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.