First American Bank Cuts Stock Position in HP Inc. $HPQ

Key Points

• First American Bank reduced its stake in HP Inc. by 79%, selling over 37,000 shares, leaving it with approximately 9,942 shares valued at $243,000.
• HP received mixed analyst ratings, with a consensus of "Hold" and a price target averaging $29.38, following recent upgrades and downgrades from various firms.
• The company reported earnings of $0.75 per share for the last quarter, meeting analysts' expectations with revenue of $13.93 billion, an increase compared to the previous year.

First American Bank lowered its stake in HP Inc. (NYSE:HPQ - Free Report) by 79.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,942 shares of the computer maker's stock after selling 37,358 shares during the period. First American Bank's holdings in HP were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kendall Capital Management grew its stake in shares of HP by 5.8% in the 2nd quarter. Kendall Capital Management now owns 129,082 shares of the computer maker's stock worth $3,157,000 after buying an additional 7,024 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of HP by 36.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 286,760 shares of the computer maker's stock worth $7,013,000 after buying an additional 75,895 shares during the last quarter. Patton Fund Management Inc. purchased a new stake in shares of HP in the 2nd quarter worth approximately $213,000. Kathmere Capital Management LLC grew its stake in shares of HP by 14.1% in the 2nd quarter. Kathmere Capital Management LLC now owns 17,454 shares of the computer maker's stock worth $427,000 after buying an additional 2,163 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new stake in shares of HP in the 2nd quarter worth approximately $622,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Zacks Research upgraded HP from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. UBS Group increased their target price on HP from $26.00 to $29.00 and gave the company a "neutral" rating in a research note on Thursday, August 28th. Dbs Bank downgraded HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Barclays cut their target price on HP from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 28th. Finally, Evercore ISI reiterated an "in-line" rating and set a $29.00 target price on shares of HP in a research note on Wednesday, September 10th. One investment analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.38.

HP Price Performance

HPQ stock opened at $26.71 on Friday. The company has a market cap of $24.97 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 2.16 and a beta of 1.29. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.79. The stock's fifty day moving average price is $27.02 and its 200-day moving average price is $26.26.

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

About HP

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.