Principal Financial Group Inc. Raises Stock Holdings in HP Inc. $HPQ

Principal Financial Group Inc. grew its position in HP Inc. (NYSE:HPQ) by 4.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,106,790 shares of the computer maker’s stock after acquiring an additional 47,878 shares during the quarter. Principal Financial Group Inc.’s holdings in HP were worth $21,261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Baird Financial Group Inc. grew its position in HP by 13.1% during the 2nd quarter. Baird Financial Group Inc. now owns 114,169 shares of the computer maker’s stock worth $2,793,000 after purchasing an additional 13,265 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of HP by 2.7% in the second quarter. Gamco Investors INC. ET AL now owns 21,230 shares of the computer maker’s stock valued at $519,000 after buying an additional 551 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of HP by 6.4% in the second quarter. Daiwa Securities Group Inc. now owns 145,337 shares of the computer maker’s stock valued at $3,555,000 after buying an additional 8,779 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of HP by 70.5% during the second quarter. Treasurer of the State of North Carolina now owns 731,574 shares of the computer maker’s stock worth $17,894,000 after buying an additional 302,578 shares during the period. Finally, HUB Investment Partners LLC purchased a new position in shares of HP during the second quarter worth about $233,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HPQ. Citigroup boosted their price target on HP from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, May 28th. Zacks Research raised HP from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings upgraded HP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 6th. Morgan Stanley boosted their target price on HP from $17.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, May 28th. Finally, UBS Group upped their price target on HP from $20.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $23.33.

HP Stock Up 2.3%

Shares of NYSE:HPQ opened at $24.79 on Wednesday. HP Inc. has a fifty-two week low of $17.56 and a fifty-two week high of $29.65. The firm’s 50-day simple moving average is $23.88 and its 200-day simple moving average is $21.13. The company has a market cap of $22.67 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 4.09 and a beta of 1.19.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.14. The firm had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $13.99 billion. HP had a net margin of 4.45% and a negative return on equity of 581.36%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $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. On average, research analysts forecast that HP Inc. will post 2.98 EPS for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.30 per share. 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 dividend payout ratio is 44.28%.

Insider Activity at HP

In other news, insider David P. Mcquarrie sold 10,524 shares of the firm’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 completion of the sale, the insider directly owned 92,200 shares of the company’s stock, valued at $2,275,496. This trade represents a 10.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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.

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.