SummitTX Capital L.P. Makes New $3.80 Million Investment in HP Inc. $HPQ

SummitTX Capital L.P. purchased a new position in shares of HP Inc. (NYSE:HPQ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 198,018 shares of the computer maker’s stock, valued at approximately $3,804,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Garner Asset Management Corp purchased a new position in HP in the fourth quarter valued at about $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of HP during the 4th quarter valued at approximately $26,000. SHP Wealth Management purchased a new stake in shares of HP during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC boosted its stake in shares of 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 shares of HP in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

HPQ has been the subject of several research analyst reports. Citigroup raised their price objective on HP from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Wall Street Zen cut HP from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. JPMorgan Chase & Co. boosted their price objective on shares of HP from $22.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Wells Fargo & Company increased their price objective on shares of HP from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Thursday, May 28th. Finally, TD Cowen raised their target price on shares of HP from $20.00 to $26.00 and gave the company a “hold” rating in a report on Thursday, May 28th. Two investment 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. According to MarketBeat.com, HP presently has a consensus rating of “Reduce” and an average target price of $23.33.

HP Stock Up 3.1%

Shares of HP stock opened at $26.54 on Tuesday. HP Inc. has a fifty-two week low of $17.56 and a fifty-two week high of $29.65. The firm has a market cap of $24.28 billion, a PE ratio of 9.79, a P/E/G ratio of 4.34 and a beta of 1.19. The business’s fifty day moving average is $24.25 and its two-hundred day moving average is $21.23.

HP (NYSE:HPQ) last announced 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. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The business had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. The business’s revenue for the quarter 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. Equities research analysts anticipate that HP Inc. will post 2.98 EPS for the current year.

HP Dividend Announcement

The business 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 $0.30 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.20 annualized dividend and a dividend yield of 4.5%. HP’s dividend payout ratio is presently 44.28%.

Insider Transactions at HP

In related news, insider David P. Mcquarrie sold 10,524 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 92,200 shares of the company’s stock, valued at approximately $2,275,496. This trade represents a 10.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.18% of the stock is owned by company insiders.

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.