Saudi Central Bank Increases Stake in HP Inc. $HPQ

Saudi Central Bank increased its holdings in shares of HP Inc. (NYSE:HPQ) by 88.9% during the second quarter, HoldingsChannel.com reports. The fund owned 64,019 shares of the computer maker’s stock after buying an additional 30,135 shares during the period. Saudi Central Bank’s holdings in HP were worth $1,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of HP during the 2nd quarter worth $2,357,757,000. Primecap Management Co. CA purchased a new position in HP in the second quarter worth approximately $545,984,000. Legal & General Group Plc acquired a new stake in HP during the second quarter worth $180,689,000. DNB Asset Management AS raised its position in HP by 242.2% in the fourth quarter. DNB Asset Management AS now owns 10,594,630 shares of the computer maker’s stock valued at $236,048,000 after purchasing an additional 7,498,202 shares during the period. Finally, Man Group plc purchased a new position in shares of HP during the 2nd quarter worth $149,223,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Down 4.6%

Shares of HP stock opened at $31.15 on Wednesday. HP Inc. has a 52 week low of $17.56 and a 52 week high of $32.78. The firm’s 50 day moving average is $27.59 and its two-hundred day moving average is $23.40. The firm has a market capitalization of $28.09 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.70 and a beta of 1.18.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 26th. The computer maker reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. HP had a net margin of 4.14% and a negative return on equity of 947.78%. The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.44 billion. During the same period last year, the firm posted $0.75 EPS. The company’s revenue was up 12.5% on a year-over-year basis. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. As a group, research analysts expect that HP Inc. will post 3.23 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, September 9th. HP’s payout ratio is presently 45.80%.

Wall Street Analyst Weigh In

HPQ has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on shares of HP from $18.00 to $20.00 and gave the company an “underweight” rating in a report on Thursday, May 28th. TD Cowen lifted their price target on shares of HP from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, August 27th. Wall Street Zen raised shares of HP from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Barclays upped their price objective on shares of HP from $19.00 to $23.00 and gave the stock an “underweight” rating in a report on Friday, August 28th. Finally, Morgan Stanley dropped their target price on shares of HP from $19.00 to $17.00 and set an “underweight” rating for the company in a report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, HP presently has an average rating of “Reduce” and an average price target of $25.17.

Insider Activity

In related news, insider David McQuarrie sold 21,048 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $29.98, for a total transaction of $631,019.04. Following the transaction, the insider owned 39,580 shares in the company, valued at $1,186,608.40. This trade represents a 34.72% decrease in their position. The transaction was disclosed in a filing with the SEC, 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. 0.18% of the stock is owned by corporate insiders.

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.