SummitTX Capital L.P. Invests $3.80 Million in HP Inc. $HPQ

SummitTX Capital L.P. purchased a new position in HP Inc. (NYSE:HPQ) during the 1st quarter, HoldingsChannel reports. The firm purchased 198,018 shares of the computer maker’s stock, valued at approximately $3,804,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp lifted its stake in HP by 26.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 151,593 shares of the computer maker’s stock valued at $2,912,000 after buying an additional 32,129 shares during the last quarter. Lombard Odier Asset Management Switzerland SA increased its holdings in shares of HP by 48.5% in the 1st quarter. Lombard Odier Asset Management Switzerland SA now owns 503,404 shares of the computer maker’s stock worth $9,670,000 after acquiring an additional 164,500 shares during the period. Waverly Advisors LLC lifted its position in HP by 10.4% in the 1st quarter. Waverly Advisors LLC now owns 25,225 shares of the computer maker’s stock valued at $485,000 after purchasing an additional 2,386 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in HP by 54.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,154,680 shares of the computer maker’s stock valued at $22,181,000 after purchasing an additional 408,830 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in HP by 50.1% during the 1st quarter. Renaissance Technologies LLC now owns 7,429,753 shares of the computer maker’s stock valued at $142,726,000 after purchasing an additional 2,481,053 shares during the period. 77.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on HPQ. Citigroup raised their price target on shares of HP from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. TD Cowen boosted their price objective on HP from $20.00 to $26.00 and gave the stock a “hold” rating in a research report on Thursday, May 28th. Bank of America increased their price objective on HP from $16.00 to $18.00 and gave the stock an “underperform” rating in a report on Thursday, May 28th. Wells Fargo & Company lifted their target price on HP from $18.00 to $20.00 and gave the company an “underweight” rating in a research note 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 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 company’s stock. Based on data from MarketBeat.com, HP presently has a consensus rating of “Reduce” and a consensus price target of $23.33.

Insiders Place Their Bets

In other HP news, insider David P. Mcquarrie sold 10,524 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $24.68, for a total transaction of $259,732.32. Following the sale, the insider owned 92,200 shares in the company, valued at approximately $2,275,496. The trade was a 10.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.18% of the company’s stock.

HP Trading Up 3.1%

Shares of NYSE:HPQ opened at $26.54 on Tuesday. The company has a 50 day moving average of $24.25 and a 200-day moving average of $21.23. The firm has a market cap of $24.28 billion, a P/E ratio of 9.79, a P/E/G ratio of 4.34 and a beta of 1.19. HP Inc. has a twelve month low of $17.56 and a twelve month high of $29.65.

HP (NYSE:HPQ) last posted 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. The business had revenue of $14.41 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $0.71 earnings per share. 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 forecast that HP Inc. will post 2.98 EPS for the current year.

HP Announces Dividend

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