HP (NYSE:HPQ) Hits New 52-Week High – Here’s Why

HP Inc. (NYSE:HPQ)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $31.30 and last traded at $31.6840, with a volume of 619326 shares traded. The stock had previously closed at $29.28.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HPQ. Citigroup raised their price target on shares of HP from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. The Goldman Sachs Group boosted their price objective on shares of HP from $19.00 to $21.00 and gave the company a “sell” rating in a report on Wednesday. Morgan Stanley upped their target price on HP from $17.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, May 28th. TD Cowen lifted their price target on HP from $20.00 to $26.00 and gave the stock a “hold” rating in a research report on Thursday, May 28th. Finally, Wells Fargo & Company boosted their price target on HP from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Thursday, May 28th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $23.50.

HP Stock Performance

The firm’s 50 day simple moving average is $25.30 and its 200 day simple moving average is $22.04. The firm has a market capitalization of $27.55 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 5.28 and a beta of 1.17.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.86 earnings per share 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 analyst estimates of $13.99 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. The business’s quarterly revenue 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 forecast that HP Inc. will post 2.98 earnings per share for the current year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th will be paid 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 dividend yield of 4.0%. HP’s dividend payout ratio (DPR) is presently 44.28%.

Insider Activity

In other news, insider David P. Mcquarrie sold 21,048 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.98, for a total value of $631,019.04. Following the sale, the insider owned 39,580 shares in the company, valued at $1,186,608.40. This represents a 34.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 52,620 shares of company stock valued at $1,478,622. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. IHT Wealth Management LLC grew its stake in shares of HP by 3.3% during the 2nd quarter. IHT Wealth Management LLC now owns 12,470 shares of the computer maker’s stock worth $305,000 after purchasing an additional 398 shares during the period. Vident Advisory LLC lifted its stake in shares of HP by 0.6% in the 2nd quarter. Vident Advisory LLC now owns 69,579 shares of the computer maker’s stock valued at $1,702,000 after purchasing an additional 444 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in HP by 10.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 5,020 shares of the computer maker’s stock worth $110,000 after buying an additional 467 shares in the last quarter. Vise Technologies Inc. grew its position in HP by 2.4% during the third quarter. Vise Technologies Inc. now owns 20,531 shares of the computer maker’s stock valued at $559,000 after buying an additional 477 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its holdings in HP by 0.6% in the second quarter. Legacy Wealth Asset Management LLC now owns 80,784 shares of the computer maker’s stock valued at $1,772,000 after buying an additional 491 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

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.