DAVENPORT & Co LLC Sells 57,930 Shares of HP Inc. $HPQ

Key Points

• DAVENPORT & Co LLC has decreased its stake in HP Inc. by 2.4%, selling 57,930 shares, and now holds approximately 2.3 million shares worth $57.5 million.
• Analysts have mixed sentiments on HP, with target price adjustments ranging from $27.00 to $30.00 following recent reports, and a consensus rating of "Hold" with a price target of $29.38.
• CEO Enrique Lores sold 34,282 shares of HP stock at $26.85, drastically reducing his ownership to just three shares.

DAVENPORT & Co LLC reduced its stake in HP Inc. (NYSE:HPQ - Free Report) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,345,074 shares of the computer maker's stock after selling 57,930 shares during the period. DAVENPORT & Co LLC owned approximately 0.25% of HP worth $57,563,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HPQ. Plato Investment Management Ltd increased its stake in HP by 1.2% during the 1st quarter. Plato Investment Management Ltd now owns 31,030 shares of the computer maker's stock valued at $869,000 after purchasing an additional 363 shares in the last quarter. Coppell Advisory Solutions LLC grew its holdings in shares of HP by 4.4% during the first quarter. Coppell Advisory Solutions LLC now owns 8,747 shares of the computer maker's stock valued at $223,000 after buying an additional 369 shares during the last quarter. Fiduciary Financial Group LLC increased its position in shares of HP by 3.2% during the second quarter. Fiduciary Financial Group LLC now owns 12,712 shares of the computer maker's stock valued at $324,000 after acquiring an additional 390 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in HP by 2.1% in the 1st quarter. Bleakley Financial Group LLC now owns 20,262 shares of the computer maker's stock worth $561,000 after acquiring an additional 411 shares during the last quarter. Finally, Private Trust Co. NA lifted its position in HP by 13.3% in the 1st quarter. Private Trust Co. NA now owns 3,684 shares of the computer maker's stock valued at $102,000 after acquiring an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

Analysts Set New Price Targets

HPQ has been the subject of a number of research analyst reports. Barclays reduced their target price on HP from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Thursday, August 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of HP in a report on Saturday, September 27th. JPMorgan Chase & Co. upped their target price on shares of HP from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. UBS Group raised their price target on shares of HP from $26.00 to $29.00 and gave the company a "neutral" rating in a report on Thursday, August 28th. Finally, Zacks Research raised shares of HP from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. One analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $29.38.

HP Stock Performance

HPQ stock opened at $26.62 on Monday. The company has a market cap of $24.88 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 2.15 and a beta of 1.29. The business's 50-day moving average is $27.15 and its two-hundred day moving average is $26.17. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The computer maker reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $13.93 billion during the quarter, compared to analyst estimates of $13.69 billion. HP had a net margin of 4.83% and a negative return on equity of 262.03%. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 EPS. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. Equities analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 34,282 shares of HP stock in a transaction on Monday, September 29th. The shares were sold at an average price of $26.85, for a total transaction of $920,471.70. Following the transaction, the chief executive officer owned 3 shares in the company, valued at $80.55. This trade represents a 99.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by corporate insiders.

HP Company Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.