Sumitomo Mitsui Trust Group Inc. Cuts Stock Position in HP Inc. $HPQ

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of HP Inc. (NYSE:HPQ) by 2.5% in the 1st quarter, HoldingsChannel reports. The firm owned 2,141,897 shares of the computer maker’s stock after selling 54,480 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in HP were worth $41,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in HP by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 132,094,388 shares of the computer maker’s stock valued at $2,943,063,000 after buying an additional 2,435,634 shares during the period. State Street Corp boosted its stake in HP by 5.3% in the third quarter. State Street Corp now owns 52,703,639 shares of the computer maker’s stock valued at $1,450,245,000 after acquiring an additional 2,651,623 shares during the last quarter. Geode Capital Management LLC grew its position in shares of HP by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 27,313,924 shares of the computer maker’s stock valued at $607,373,000 after acquiring an additional 274,033 shares during the period. Invesco Ltd. increased its stake in shares of HP by 31.7% during the 4th quarter. Invesco Ltd. now owns 15,236,428 shares of the computer maker’s stock worth $339,468,000 after purchasing an additional 3,671,511 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of HP by 50.2% in the 4th quarter. AQR Capital Management LLC now owns 13,582,142 shares of the computer maker’s stock worth $302,610,000 after purchasing an additional 4,542,339 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Stock Performance

Shares of NYSE HPQ opened at $24.23 on Monday. The stock has a market cap of $22.16 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 4.09 and a beta of 1.19. HP Inc. has a fifty-two week low of $17.56 and a fifty-two week high of $29.65. The stock has a fifty day moving average of $23.46 and a 200-day moving average of $21.06.

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, topping analysts’ consensus estimates of $0.72 by $0.14. The business had revenue of $14.41 billion for 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%.The firm’s quarterly revenue was up 9.0% on a year-over-year basis. 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, sell-side analysts predict that HP Inc. will post 2.98 EPS for the current year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, September 9th. HP’s dividend payout ratio is 44.28%.

Insider Transactions at HP

In other HP news, insider David P. Mcquarrie sold 10,524 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $24.68, for a total value of $259,732.32. Following the sale, the insider directly owned 92,200 shares in the company, valued at $2,275,496. This represents a 10.24% decrease in their position. The transaction 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 owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley increased their price objective on HP from $17.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, May 28th. The Goldman Sachs Group boosted their target price on HP from $16.00 to $19.00 and gave the company a “sell” rating in a research note on Tuesday, June 2nd. Wall Street Zen upgraded HP from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. TD Cowen boosted their price objective on HP from $20.00 to $26.00 and gave the company a “hold” rating in a research note on Thursday, May 28th. Finally, UBS Group upped their price objective on shares of HP from $20.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $23.33.

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.