CX Institutional Lowers Stock Position in HP Inc. $HPQ

Key Points

• CX Institutional cut its HP stake by 97.6% in the third quarter, selling 400,491 shares and retaining 9,797 shares valued at approximately $306,000. Institutional investors collectively own 77.53% of HP.
• Analysts remain mixed on HP, with a consensus “Hold” rating and an average price target of $25.77. Recent targets ranged from $17 to $33, including several upgrades but continued neutral or underweight ratings.
• HP reported stronger-than-expected quarterly results, posting $0.83 in adjusted earnings per share and $15.68 billion in revenue, while revenue increased 12.5% year over year. The stock opened at $31.49 and trades within a 52-week range of $17.56 to $36.22.

CX Institutional reduced its stake in HP Inc. (NYSE:HPQ - Free Report) by 97.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,797 shares of the computer maker's stock after selling 400,491 shares during the period. CX Institutional's holdings in HP were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. QRG Capital Management Inc. increased its position in shares of HP by 33.7% in the second quarter. QRG Capital Management Inc. now owns 94,002 shares of the computer maker's stock worth $2,062,000 after purchasing an additional 23,693 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in HP by 10.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 102,224 shares of the computer maker's stock worth $2,243,000 after purchasing an additional 9,401 shares during the period. Andra AP fonden bought a new stake in HP during the second quarter worth about $2,407,000. State Street Corp grew its stake in HP by 1.5% during the second quarter. State Street Corp now owns 52,843,678 shares of the computer maker's stock worth $1,174,855,000 after buying an additional 757,961 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in HP by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 706,270 shares of the computer maker's stock worth $15,496,000 after buying an additional 11,863 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.

Analyst Upgrades and Downgrades

HPQ has been the subject of several analyst reports. 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 research report on Monday, August 24th. Barclays increased their price target on shares of HP from $19.00 to $23.00 and gave the stock an "underweight" rating in a research report on Friday, August 28th. Royal Bank Of Canada started coverage on shares of HP in a research note on Thursday, September 10th. They issued a "sector perform" rating and a $33.00 price objective on the stock. UBS Group boosted their price objective on shares of HP from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Thursday, August 27th. Finally, TD Cowen upped their target price on HP from $26.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, August 27th. Three investment 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 company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $25.77.

Insider Buying and Selling

In other news, insider David McQuarrie sold 21,048 shares of HP stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.98, for a total transaction of $631,019.04. Following the sale, the insider directly owned 39,580 shares of the company's stock, valued at approximately $1,186,608.40. This trade represents a 34.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,096 shares of company stock valued at $1,218,890 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

HP Price Performance

HPQ stock opened at $31.49 on Tuesday. The stock has a market cap of $28.39 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.67 and a beta of 1.17. The company has a 50 day simple moving average of $30.84 and a 200 day simple moving average of $25.25. HP Inc. has a 1 year low of $17.56 and a 1 year high of $36.22.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share 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 analyst estimates of $14.44 billion. During the same quarter last year, the business posted $0.75 earnings per share. The company's quarterly 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. On average, equities research analysts anticipate that HP Inc. will post 3.23 EPS for the current fiscal year.

HP Company Profile

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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