HP Inc. $HPQ Stock Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its HP stake by 4.6% in the second quarter, selling 46,402 shares and retaining 968,838 shares valued at approximately $21.3 million. Institutional investors and hedge funds own 77.53% of HP.
• Analysts maintain a cautious outlook, with a consensus “Hold” rating and an average price target of $25.77. Recent views included Morgan Stanley lowering its target to $17 and Goldman Sachs raising its target to $21 while maintaining a “Sell” rating.
• HP reported stronger-than-expected quarterly results, posting $0.83 in EPS versus $0.66 expected and $15.68 billion in revenue versus $14.44 billion expected. Revenue increased 12.5% year over year, while the stock opened at $30.66, within its 52-week range of $17.56 to $36.22.

Envestnet Asset Management Inc. reduced its position in HP Inc. (NYSE:HPQ - Free Report) by 4.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 968,838 shares of the computer maker's stock after selling 46,402 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of HP worth $21,256,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HPQ. Andra AP fonden acquired a new stake in shares of HP during the second quarter valued at $2,407,000. State Street Corp increased its stake in shares of HP by 1.5% in 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 during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of HP by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 706,270 shares of the computer maker's stock valued at $15,496,000 after acquiring an additional 11,863 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in HP by 2.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 35,392 shares of the computer maker's stock valued at $777,000 after purchasing an additional 955 shares during the period. Finally, MCF Advisors LLC grew its stake in shares of HP by 149.0% in the second quarter. MCF Advisors LLC now owns 1,337 shares of the computer maker's stock worth $29,000 after purchasing an additional 800 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HPQ. Weiss Ratings raised HP from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 6th. Wall Street Zen cut HP from a "buy" rating to a "hold" rating in a research report on Saturday. Morgan Stanley lowered their price target on shares of HP from $19.00 to $17.00 and set an "underweight" rating on the stock in a report on Monday, August 24th. Evercore set a $32.00 price target on shares of HP in a report on Monday, August 24th. Finally, The Goldman Sachs Group increased their price target 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. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $25.77.

HP Stock Performance

NYSE:HPQ opened at $30.66 on Wednesday. The firm has a market cap of $27.64 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.63 and a beta of 1.18. The firm's 50-day simple moving average is $30.34 and its 200 day simple moving average is $24.89. HP Inc. has a 52 week low of $17.56 and a 52 week high of $36.22.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share for the quarter, topping 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 net margin of 4.14% and a negative return on equity of 947.78%. The firm's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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. Sell-side analysts anticipate that HP Inc. will post 3.23 EPS for the current year.

Insider Buying and Selling at HP

In other news, insider David McQuarrie sold 21,048 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $29.98, for a total value of $631,019.04. Following the completion of the transaction, the insider owned 39,580 shares of the company's stock, valued at $1,186,608.40. This represents a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,096 shares of company stock worth $1,218,890 in the last quarter. Insiders own 0.18% of the company's stock.

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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