HP (NYSE:HPQ) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of HP (NYSE:HPQ) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Other research analysts have also recently issued reports about the stock. UBS Group boosted their price target on shares of HP from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. increased their price objective on shares of HP from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Weiss Ratings raised shares of HP from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 6th. Zacks Research upgraded HP from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Finally, TD Cowen upped their target price on HP from $20.00 to $26.00 and gave the company a “hold” rating in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $23.33.

HP Trading Up 2.9%

NYSE HPQ opened at $24.84 on Friday. The business has a fifty day simple moving average of $23.76 and a 200 day simple moving average of $21.12. HP has a 12 month low of $17.56 and a 12 month high of $29.65. The firm has a market capitalization of $22.71 billion, a P/E ratio of 9.16, a PEG ratio of 4.19 and a beta of 1.19.

HP (NYSE:HPQ) last posted 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. 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 for the quarter, compared to the consensus estimate of $13.99 billion. During the same period in the previous year, the firm earned $0.71 EPS. 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. As a group, sell-side analysts predict that HP will post 2.98 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 9th. HP’s payout ratio is 44.28%.

Insider Buying and Selling

In related news, insider David P. Mcquarrie sold 10,524 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $24.68, for a total value of $259,732.32. Following the transaction, the insider owned 92,200 shares in the company, valued at approximately $2,275,496. This represents a 10.24% decrease in their ownership of the stock. 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. Insiders own 0.18% of the company’s stock.

Institutional Trading of HP

Several hedge funds have recently made changes to their positions in HPQ. DNB Asset Management AS increased its holdings in HP by 242.2% in the 4th quarter. DNB Asset Management AS now owns 10,594,630 shares of the computer maker’s stock worth $236,048,000 after acquiring an additional 7,498,202 shares during the last quarter. Norges Bank bought a new stake in HP in the 4th quarter valued at about $149,309,000. Arrowstreet Capital Limited Partnership lifted its holdings in HP by 186.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 8,378,723 shares of the computer maker’s stock valued at $228,153,000 after purchasing an additional 5,449,691 shares during the last quarter. AQR Capital Management LLC lifted its holdings in HP by 143.4% during the third quarter. AQR Capital Management LLC now owns 9,039,803 shares of the computer maker’s stock valued at $244,527,000 after purchasing an additional 5,325,260 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in HP by 626.6% during the fourth quarter. Renaissance Technologies LLC now owns 4,948,700 shares of the computer maker’s stock worth $110,257,000 after purchasing an additional 4,267,600 shares during the period. 77.53% of the stock is currently owned by institutional investors.

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.