HP Inc. $HPQ Position Trimmed by Retirement Systems of Alabama

Key Points

• Retirement Systems of Alabama cut its HP stake by 12.7% in the third quarter, selling 286,559 shares; it retained 1,970,880 shares valued at about $61.6 million.
• HP’s latest quarterly results beat expectations: EPS was $0.83 versus a $0.66 consensus, while revenue of $15.68 billion exceeded forecasts and rose 12.5% year over year.
• Analysts’ overall rating is Hold, with an average price target of $26.30. Five analysts rate the stock Buy, seven Hold, and five Sell.

Retirement Systems of Alabama decreased its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 12.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,970,880 shares of the computer maker's stock after selling 286,559 shares during the period. Retirement Systems of Alabama owned 0.22% of HP worth $61,649,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HPQ. North Point Portfolio Managers Corp OH purchased a new position in HP during the third quarter valued at $28,000. Heritage Family Offices LLP bought a new stake in HP in the third quarter worth $31,000. Compass Wealth Management LLC purchased a new stake in shares of HP in the third quarter worth $38,000. Ashton Thomas Securities LLC purchased a new stake in shares of HP in the third quarter worth $39,000. Finally, Aberdeen Wealth Management LLC bought a new position in shares of HP during the second quarter valued at $29,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several recent analyst reports. Weiss Ratings raised HP from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, November 3rd. TD Cowen upped their price target on shares of HP from $26.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, August 27th. Bank of America reissued an "underperform" rating on shares of HP in a research report on Thursday, August 27th. KGI Securities raised their price objective on shares of HP from $18.00 to $32.00 in a research note on Thursday, August 27th. Finally, Loop Capital raised their price objective on shares of HP from $25.00 to $30.00 and gave the company a "hold" rating in a research note on Friday, August 28th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, HP currently has an average rating of "Hold" and an average price target of $26.30.

HP Price Performance

HP stock opened at $28.33 on Tuesday. HP Inc. has a one year low of $17.56 and a one year high of $36.22. The stock has a market capitalization of $25.55 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The business's fifty day moving average is $31.61 and its 200 day moving average is $24.79.

HP (NYSE:HPQ - Get Free Report) last posted its earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. The business had revenue of $15.68 billion for the quarter, compared to analysts' expectations of $14.44 billion. HP had a net margin of 4.14% and a negative return on equity of 947.78%. The business's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 EPS. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. As a group, sell-side analysts expect that HP Inc. will post 3.23 EPS for the current fiscal year.

Insider Activity at HP

In other HP news, insider David P. Mcquarrie sold 31,572 shares of HP stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $32.12, for a total value of $1,014,092.64. Following the completion of the sale, the insider owned 8,008 shares of the company's stock, valued at approximately $257,216.96. The trade was a 79.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Anneliese Olson sold 18,997 shares of the stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $32.56, for a total value of $618,542.32. Following the transaction, the insider directly owned 169 shares in the company, valued at $5,502.64. The trade was a 99.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.18% of the stock is owned by insiders.

HP Profile

HP Inc is a global technology company that develops and sells personal computing and printing products and services. Its offerings include laptops, desktop computers, workstations, displays, accessories and peripherals, as well as printers, printing supplies and related solutions for consumers, businesses and public-sector customers.

The company organizes its business around Personal Systems and Printing. In addition to hardware, HP provides services and solutions such as device management and managed print services, and it offers technologies for commercial and industrial printing.

HP traces its origins to Hewlett-Packard, founded in 1939 by Bill Hewlett and Dave Packard.

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