HP Inc. $HPQ Stock: Harbor Island Capital LLC Lowers Holdings

Key Points

• Harbor Island Capital LLC reduced its HP stake by 14.6% in the third quarter, selling 43,060 shares and retaining 252,346 shares worth approximately $7.9 million. Institutional investors collectively own 77.53% of HP.
• Analyst sentiment remains cautious: HP has a consensus rating of “Reduce” and an average price target of $25.42, with ratings ranging from Strong Buy to Sell.
• HP reported stronger-than-expected quarterly results, with $0.83 in EPS versus the $0.66 estimate and $15.68 billion in revenue. Shares opened at $33.66, near the company’s 12-month high of $36.22.

Harbor Island Capital LLC trimmed its position in HP Inc. (NYSE:HPQ - Free Report) by 14.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 252,346 shares of the computer maker's stock after selling 43,060 shares during the period. HP accounts for approximately 2.0% of Harbor Island Capital LLC's investment portfolio, making the stock its 14th biggest holding. Harbor Island Capital LLC's holdings in HP were worth $7,893,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HPQ. MassMutual Private Wealth & Trust FSB increased its holdings in shares of HP by 10.3% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 5,020 shares of the computer maker's stock valued at $110,000 after purchasing an additional 467 shares during the period. Legacy Wealth Asset Management LLC lifted its holdings in shares of HP by 0.6% during the second quarter. Legacy Wealth Asset Management LLC now owns 80,784 shares of the computer maker's stock worth $1,772,000 after purchasing an additional 491 shares during the period. Cullinan Associates Inc. lifted its holdings in shares of HP by 0.3% during the second quarter. Cullinan Associates Inc. now owns 189,327 shares of the computer maker's stock worth $4,154,000 after purchasing an additional 540 shares during the period. Elevation Wealth Partners LLC lifted its holdings in shares of HP by 2.5% during the third quarter. Elevation Wealth Partners LLC now owns 22,488 shares of the computer maker's stock worth $703,000 after purchasing an additional 550 shares during the period. Finally, Wilkerson Advisory Group LLC boosted its position in HP by 35.0% in the first quarter. Wilkerson Advisory Group LLC now owns 2,512 shares of the computer maker's stock valued at $48,000 after buying an additional 651 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Evercore set a $32.00 price target on shares of HP in a report on Monday, August 24th. The Goldman Sachs Group lifted their price objective on shares of HP from $19.00 to $21.00 and gave the company a "sell" rating in a research note on Wednesday, August 12th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $32.00 price objective on shares of HP in a report on Thursday, August 27th. Morgan Stanley cut their price objective on shares of HP from $19.00 to $17.00 and set an "underweight" rating on the stock in a research note on Monday, August 24th. Finally, TD Cowen raised their target price on shares of HP from $26.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $25.42.

Insider Activity

In related news, insider David McQuarrie sold 31,572 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $32.12, for a total transaction of $1,014,092.64. Following the sale, the insider directly owned 8,008 shares of the company's stock, valued at approximately $257,216.96. This represents a 79.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 73,668 shares of company stock valued at $2,232,982. Insiders own 0.18% of the company's stock.

HP Trading Down 0.3%

Shares of HPQ stock opened at $33.66 on Friday. The stock has a 50 day moving average of $31.54 and a 200 day moving average of $26.42. The stock has a market cap of $30.35 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.75 and a beta of 1.17. HP Inc. has a twelve month low of $17.56 and a twelve month high of $36.22.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The company had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.44 billion. HP had a negative return on equity of 947.78% and a net margin of 4.14%. HP's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. 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, research analysts predict that HP Inc. will post 3.23 earnings per share for the current fiscal year.

HP Profile

HP Inc NYSE: HPQ is a global technology company that develops personal computing and printing products, services, and solutions. Its portfolio includes laptops, desktop computers, workstations, monitors, peripherals, printers, digital printing systems, and related supplies such as ink and toner.

The company serves consumers, small and medium-sized businesses, large enterprises, and public-sector organizations through direct sales, online channels, retailers, distributors, and other business partners.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.