Key Points
- HP insider David McQuarrie sold 31,572 shares at an average price of $32.12, generating approximately $1.01 million. The Rule 10b5-1 transaction reduced his holdings by 79.77% to 8,008 shares.
- HP reported stronger-than-expected quarterly results, with earnings of $0.83 per share versus the $0.66 consensus estimate and revenue of $15.68 billion, up 12.5% year over year.
- Analysts maintain a generally cautious view: HP has an average “Hold” rating and a consensus price target of $25.77, while institutional investors and hedge funds own 77.53% of the stock.
HP Inc. (NYSE:HPQ - Get Free Report) insider David Mcquarrie sold 31,572 shares of the company's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $32.12, for a total transaction of $1,014,092.64. Following the completion of the sale, the insider owned 8,008 shares of the company's stock, valued at $257,216.96. This represents a 79.77% decrease in their ownership of the stock. The sale 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.
HP Price Performance
NYSE HPQ opened at $31.78 on Wednesday. HP Inc. has a fifty-two week low of $17.56 and a fifty-two week high of $36.22. The stock's 50-day moving average is $30.91 and its two-hundred day moving average is $25.35. The firm has a market cap of $28.66 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.64 and a beta of 1.17.
HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.17. The company had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.44 billion. HP had a negative return on equity of 947.78% and a net margin of 4.14%.The firm's revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. On average, equities analysts expect that HP Inc. will post 3.23 EPS for the current year.
Hedge Funds Weigh In On HP
A number of large investors have recently modified their holdings of HPQ. BlackRock Inc. acquired a new position in HP during the second quarter valued at approximately $2,357,757,000. Primecap Management Co. CA acquired a new stake in HP in the second quarter worth $545,984,000. Legal & General Group Plc acquired a new stake in HP in the second quarter worth $180,689,000. Man Group plc bought a new position in shares of HP during the second quarter worth $149,223,000. Finally, Deutsche Bank AG acquired a new position in shares of HP in the 2nd quarter valued at $140,172,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
HPQ has been the topic of several research reports. Weiss Ratings restated a "hold (c)" rating on shares of HP in a report on Friday. Evercore set a $32.00 target price on HP in a research report on Monday, August 24th. UBS Group boosted their price target on HP from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, August 27th. The Goldman Sachs Group upped their price target on HP from $19.00 to $21.00 and gave the company a "sell" rating in a report on Wednesday, August 12th. Finally, Royal Bank Of Canada began coverage on HP in a research report on Thursday, September 10th. They issued a "sector perform" rating and a $33.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $25.77.
Check Out Our Latest Analysis on HPQ
About HP
(
Get Free Report)
HP Inc (NYSE: HPQ) is a global technology company that develops and sells personal computing and printing products, services, and solutions. Its portfolio includes laptops, desktop computers, workstations, monitors, accessories, and other peripherals for consumers and businesses.
The company's printing business provides printers, multifunction devices, digital presses, supplies such as ink and toner, and related services and solutions. HP also offers managed print services, device and lifecycle management, and other technology services designed to support workplace productivity and hybrid work environments.
HP traces its origins to Hewlett-Packard, founded in 1939 by Bill Hewlett and Dave Packard.
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