Gotham Asset Management LLC Acquires 651,212 Shares of HP Inc. $HPQ

by · The Markets Daily

Gotham Asset Management LLC increased its holdings in shares of HP Inc. (NYSE:HPQ – Free Report) by 82.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,441,210 shares of the computer maker’s stock after acquiring an additional 651,212 shares during the period. Gotham Asset Management LLC’s holdings in HP were worth $39,244,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HPQ. Laurel Wealth Advisors LLC lifted its stake in HP by 2,346.5% during the second quarter. Laurel Wealth Advisors LLC now owns 1,052 shares of the computer maker’s stock worth $26,000 after purchasing an additional 1,009 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in HP during the second quarter valued at approximately $27,000. Westfuller Advisors LLC bought a new stake in shares of HP in the 3rd quarter valued at approximately $28,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of HP by 72.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,220 shares of the computer maker’s stock valued at $30,000 after purchasing an additional 512 shares during the period. Finally, Caitlin John LLC acquired a new position in shares of HP in the 3rd quarter worth approximately $30,000. Institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HPQ. Argus upgraded HP to a “strong-buy” rating in a research report on Tuesday, December 2nd. Evercore set a $22.00 price objective on HP in a research note on Thursday, February 19th. Barclays cut their price objective on HP from $18.00 to $16.00 and set an “underweight” rating for the company in a report on Wednesday, February 25th. Morgan Stanley reduced their target price on shares of HP from $18.00 to $16.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group lowered their target price on shares of HP from $21.00 to $16.00 and set a “sell” rating on the stock in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, HP presently has an average rating of “Reduce” and a consensus price target of $21.58.

Read Our Latest Stock Analysis on HPQ

Insider Activity

In other news, insider Ketan M. Patel sold 33,321 shares of the company’s stock in a transaction on Friday, December 26th. The stock was sold at an average price of $23.19, for a total transaction of $772,713.99. Following the transaction, the insider owned 34,572 shares of the company’s stock, valued at $801,724.68. This represents a 49.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is owned by company insiders.

HP Price Performance

HPQ opened at $18.94 on Monday. The stock has a market capitalization of $17.32 billion, a P/E ratio of 7.17, a price-to-earnings-growth ratio of 5.26 and a beta of 1.18. The company’s 50 day simple moving average is $19.54 and its 200-day simple moving average is $23.77. HP Inc. has a one year low of $17.56 and a one year high of $29.55.

HP (NYSE:HPQ – Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The computer maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.04. HP had a net margin of 4.46% and a negative return on equity of 367.41%. The firm had revenue of $14.44 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the company posted $0.74 EPS. HP’s revenue was up 6.9% on a year-over-year basis. HP has set its Q2 2026 guidance at 0.700-0.760 EPS. As a group, analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.3%. HP’s payout ratio is presently 45.45%.

HP Profile

(Free Report)

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.

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