HP Inc. $HPQ Stock Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its HP stake by 4.2% in the third quarter, selling 88,885 shares and retaining about 2.01 million shares valued at $62.9 million.
• HP reported quarterly EPS of $0.83, beating the $0.66 consensus, while revenue rose 12.5% year over year to $15.68 billion.
• Analyst sentiment is cautious: MarketBeat reports a consensus “Reduce” rating and an average price target of $26.30, with four Buy, eight Hold, and five Sell ratings.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 4.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,009,698 shares of the computer maker's stock after selling 88,885 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of HP worth $62,863,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HPQ. MassMutual Private Wealth & Trust FSB raised its stake in HP by 10.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 5,020 shares of the computer maker's stock worth $110,000 after purchasing an additional 467 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in shares of HP by 0.6% during the 2nd 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 in the last quarter. Founders Financial Securities LLC grew its position in shares of HP by 0.8% during the 3rd quarter. Founders Financial Securities LLC now owns 62,324 shares of the computer maker's stock worth $1,949,000 after purchasing an additional 496 shares in the last quarter. Cullinan Associates Inc. increased 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. Finally, Elevation Wealth Partners LLC increased 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. Institutional investors own 77.53% of the company's stock.

Insider Buying and Selling at HP

In related news, insider Anneliese Olson sold 18,997 shares of the firm's stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $32.56, for a total value of $618,542.32. Following the sale, the insider directly owned 169 shares of the company's stock, valued at $5,502.64. This trade represents a 99.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David P. Mcquarrie sold 31,572 shares of the firm's stock in a transaction dated 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 directly owned 8,008 shares in the company, valued at $257,216.96. This trade represents a 79.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 71,617 shares of company stock worth $2,263,654. Corporate insiders own 0.18% of the company's stock.

HP Trading Down 0.6%

NYSE HPQ opened at $28.26 on Wednesday. The firm's 50 day simple moving average is $31.69 and its 200 day simple moving average is $24.62. The firm has a market capitalization of $25.49 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 1.55 and a beta of 1.16. HP Inc. has a 1 year low of $17.56 and a 1 year high of $36.22.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HPQ shares. TD Cowen lifted their price target on shares of HP from $26.00 to $30.00 and gave the company a "hold" rating in a research report on Thursday, August 27th. Royal Bank Of Canada began coverage on HP in a research report on Thursday, September 10th. They set a "sector perform" rating and a $33.00 price target on the stock. The Goldman Sachs Group increased their price target on HP from $21.00 to $22.00 and gave the stock a "sell" rating in a research report on Monday, August 31st. JPMorgan Chase & Co. raised their price objective on HP from $27.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 25th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $32.00 price objective (up from $27.00) on shares of HP in a report on Thursday, August 27th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $26.30.

About HP

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.

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