Sowell Financial Services LLC Reduces Stock Position in HP Inc. $HPQ

Sowell Financial Services LLC lessened its stake in HP Inc. (NYSE:HPQ) by 55.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,016 shares of the computer maker’s stock after selling 20,231 shares during the period. Sowell Financial Services LLC’s holdings in HP were worth $351,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on HP from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. TD Cowen increased their price objective on shares of HP from $20.00 to $26.00 and gave the stock a “hold” rating in a research note on Thursday, May 28th. UBS Group raised their price objective on shares of HP from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Wall Street Zen lowered shares of HP from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, The Goldman Sachs Group upped their target price on shares of HP from $19.00 to $21.00 and gave the company a “sell” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $23.50.

Insider Buying and Selling

In other HP news, insider David P. Mcquarrie sold 21,048 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $29.98, for a total transaction of $631,019.04. Following the sale, the insider owned 39,580 shares in the company, valued at approximately $1,186,608.40. This trade represents a 34.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 52,620 shares of company stock worth $1,478,622. 0.18% of the stock is currently owned by company insiders.

HP Stock Performance

NYSE HPQ opened at $29.19 on Thursday. The business’s fifty day moving average is $25.11 and its 200 day moving average is $21.90. HP Inc. has a fifty-two week low of $17.56 and a fifty-two week high of $30.87. The company has a market capitalization of $26.69 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 4.90 and a beta of 1.17.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 27th. The computer maker reported $0.86 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 business had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $13.99 billion. During the same quarter in the prior year, the business posted $0.71 earnings per share. The business’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. On average, sell-side analysts forecast that HP Inc. will post 2.98 EPS for the current year.

HP Dividend Announcement

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 $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 9th. HP’s dividend payout ratio is currently 44.28%.

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.