Bank of Nova Scotia Increases Position in HP Inc. $HPQ

Bank of Nova Scotia boosted its stake in shares of HP Inc. (NYSE:HPQ) by 33.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,183,747 shares of the computer maker’s stock after buying an additional 543,870 shares during the period. Bank of Nova Scotia’s holdings in HP were worth $41,950,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Garner Asset Management Corp acquired a new position in HP in the fourth quarter valued at approximately $25,000. Flagship Harbor Advisors LLC purchased a new stake in HP in the fourth 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 lifted its stake in shares of 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 shares of HP during the 4th quarter worth $28,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on HPQ. Barclays raised their price target on HP from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, May 28th. Zacks Research raised shares of HP from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Morgan Stanley raised their price target 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. JPMorgan Chase & Co. increased their price objective on HP from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings raised HP from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 6th. Two 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $23.33.

HP Trading Up 5.3%

Shares of HPQ opened at $25.82 on Friday. HP Inc. has a 12-month low of $17.56 and a 12-month high of $29.65. The company’s 50 day simple moving average is $24.14 and its 200-day simple moving average is $21.20. The firm has a market cap of $23.61 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 4.14 and a beta of 1.19.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The company had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. HP’s quarterly revenue 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. As a group, equities research analysts forecast that HP Inc. will post 2.98 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Wednesday, September 9th. HP’s payout ratio is presently 44.28%.

Insider Buying and Selling at HP

In other news, insider David P. Mcquarrie sold 10,524 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $24.68, for a total value of $259,732.32. Following the completion of the transaction, the insider owned 92,200 shares in the company, valued at $2,275,496. This trade represents a 10.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.18% of the stock is currently owned by company insiders.

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.