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PALO ALTO, CA - HP Inc. (NYSE:HPQ), a prominent player in the Technology Hardware industry with a market capitalization of $22.4 billion and currently trading at $23.83, announced the results of its 2025 annual meeting of stockholders, which took place on Monday, with key approvals including the election of board members and ratification of the company’s independent auditor. According to InvestingPro analysis, HP appears undervalued based on its Fair Value assessment.
Thirteen individuals were elected to HP’s Board of Directors, with each nominee receiving an overwhelming majority of the votes. Chip Bergh led the approvals with 99.1% in favor. The other directors, including Bruce Broussard, Stacy Brown-Philpot, and Stephanie A. Burns, also received high approval ratings, all securing over 97% of the votes cast. The strong shareholder support comes as HP maintains its 55-year streak of consistent dividend payments, with a current yield of 4.9%.
Furthermore, the appointment of Ernst & Young LLP as HP’s independent registered public accounting firm for the fiscal year ending October 31, 2025, was ratified with a significant majority of 93.65% of the votes in favor.
In an advisory vote, stockholders approved the compensation of HP’s named executive officers. This proposal received a 93.73% approval rate, demonstrating shareholder support for the company’s executive compensation strategy.
The voting results underscored stockholder confidence in the company’s leadership and governance practices. The newly elected board members are expected to guide HP through the upcoming fiscal year, while the approval of Ernst & Young LLP ensures continuity in the company’s financial oversight.
The annual meeting provided a platform for shareholders to exercise their rights and influence the direction of the company. The results of the meeting, based on a press release statement, reveal a strong endorsement of HP’s current management and strategic direction by its shareholders.
In other recent news, HP Inc. reported a 3% year-over-year revenue growth in constant currency, driven by a 5% increase in its Personal Systems segment, attributed to strong commercial demand and the ongoing Windows 11 refresh cycle. Despite this growth, consumer demand for HP’s products remains weak, and its Print revenue decreased by 1% year-over-year, although the Print operating margin stayed at the upper end of the guidance range. In a strategic move, HP has partnered with Reincubate to enhance video conferencing capabilities on its new AI PCs, aiming to provide secure and efficient digital collaboration experiences.
Additionally, HP unveiled over 80 AI-powered PCs and quantum-safe printers at its Amplify Conference, highlighting its commitment to innovation with products like the EliteBook 8 Series and the EliteDesk 8 Series desktops. Loop Capital Markets recently adjusted its outlook on HP, lowering the price target from $35 to $30 while maintaining a Hold rating, following HP’s earnings report for the January quarter. The company is also considering shifting some of its manufacturing operations to the United States, although no final decision has been made.
Moreover, HP has reduced its Board of Directors from 15 to 13 members, following the departure of two directors, Aida Alvarez and Robert Bennett. This change was disclosed in HP’s latest SEC filing and will take effect on April 14, 2025. These developments reflect HP’s ongoing efforts to adapt to market conditions and enhance its product offerings.
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