Cullinan Associates Inc. Increases Holdings in HP Inc. $HPQ

Cullinan Associates Inc. raised its stake in HP Inc. (NYSE:HPQ) by 23.6% during the first quarter, HoldingsChannel.com reports. The fund owned 188,787 shares of the computer maker’s stock after purchasing an additional 36,062 shares during the quarter. Cullinan Associates Inc.’s holdings in HP were worth $3,627,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI lifted its position in HP by 62.4% in the first quarter. Citizens Financial Group Inc. RI now owns 20,635 shares of the computer maker’s stock worth $401,000 after buying an additional 7,930 shares during the last quarter. Fifth Third Bancorp raised its position in HP by 511.4% during the 1st quarter. Fifth Third Bancorp now owns 157,151 shares of the computer maker’s stock valued at $3,019,000 after purchasing an additional 131,446 shares in the last quarter. Candriam S.C.A. raised its holdings in shares of HP by 12.4% in the first quarter. Candriam S.C.A. now owns 96,546 shares of the computer maker’s stock valued at $1,855,000 after acquiring an additional 10,619 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in HP by 2.3% during the first quarter. Hsbc Holdings PLC now owns 4,687,733 shares of the computer maker’s stock worth $90,011,000 after buying an additional 104,434 shares during the period. Finally, First Horizon Corp boosted its position in HP by 107.0% during the first quarter. First Horizon Corp now owns 304,510 shares of the computer maker’s stock valued at $5,850,000 after purchasing an additional 157,380 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HP

In other news, insider David P. Mcquarrie sold 10,524 shares of HP stock in a transaction dated Friday, June 12th. The stock was 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 approximately $2,275,496. This trade represents a 10.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of HP from $22.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Citigroup raised their price target on shares of HP from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Wall Street Zen raised HP from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Wells Fargo & Company increased their price target on shares of HP from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Thursday, May 28th. Finally, Weiss Ratings upgraded 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 given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $23.33.

HP Stock Performance

Shares of NYSE HPQ traded up $0.10 during trading on Friday, hitting $24.23. 11,020,734 shares of the company were exchanged, compared to its average volume of 14,595,266. The firm has a market capitalization of $22.16 billion, a PE ratio of 8.94, a P/E/G ratio of 4.09 and a beta of 1.19. The company has a fifty day moving average price of $23.46 and a 200-day moving average price of $21.07. HP Inc. has a 12-month low of $17.56 and a 12-month high of $29.65.

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. HP had a negative return on equity of 581.36% and a net margin of 4.45%.The firm had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same period last year, the company earned $0.71 EPS. The company’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. Research analysts anticipate that HP Inc. will post 2.98 earnings per share for the current fiscal year.

HP Announces Dividend

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