State Street Corp Has $1.17 Billion Stock Holdings in HP Inc. $HPQ

Key Points

• State Street increased its HP stake by 1.5% in the second quarter to 52.84 million shares valued at approximately $1.17 billion, while institutional investors collectively own 77.53% of HP.
• HP exceeded quarterly expectations, reporting $0.83 adjusted EPS and $15.68 billion in revenue, with revenue up 12.5% year over year. Analysts maintain a consensus “Hold” rating with a $25.77 price target.
• Despite the strong quarter, HP faces pressure from cautious fiscal 2027 planning: the company expects global PC volumes to decline by a mid-single-digit percentage and cited rising component costs, raising concerns about future margins and earnings visibility.

State Street Corp raised its position in HP Inc. (NYSE:HPQ - Free Report) by 1.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 52,843,678 shares of the computer maker's stock after acquiring an additional 757,961 shares during the period. State Street Corp owned approximately 5.86% of HP worth $1,174,855,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake 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 buying an additional 467 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its stake in HP by 0.6% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 80,784 shares of the computer maker's stock valued at $1,772,000 after purchasing an additional 491 shares during the last quarter. Cullinan Associates Inc. increased its holdings in HP by 0.3% during the 2nd 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 in the last quarter. Wilkerson Advisory Group LLC raised its stake in shares of HP by 35.0% in the first quarter. Wilkerson Advisory Group LLC now owns 2,512 shares of the computer maker's stock worth $48,000 after purchasing an additional 651 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of HP by 7.8% in the second quarter. Signaturefd LLC now owns 9,713 shares of the computer maker's stock valued at $213,000 after purchasing an additional 700 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on HPQ. Evercore set a $32.00 price target on HP in a report on Monday, August 24th. JPMorgan Chase & Co. raised their price objective on HP from $22.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, May 28th. Barclays lifted their price objective on shares of HP from $19.00 to $23.00 and gave the stock an "underweight" rating in a report on Friday, August 28th. TD Cowen upped their target price 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. Finally, Weiss Ratings upgraded shares of HP from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 6th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, HP currently has a consensus rating of "Hold" and a consensus price target of $25.77.

HP Stock Performance

HPQ opened at $32.08 on Wednesday. HP Inc. has a fifty-two week low of $17.56 and a fifty-two week high of $36.22. The firm has a 50-day moving average of $29.64 and a 200 day moving average of $24.45. The firm has a market cap of $28.93 billion, a P/E ratio of 12.24, a PEG ratio of 1.71 and a beta of 1.18.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The firm 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 company's revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm 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. Equities research analysts predict that HP Inc. will post 3.23 earnings per share for the current fiscal year.

More HP News

Here are the key news stories impacting HP this week:

• Positive Sentiment: HP introduced the Googlebook 14, a premium Chromebook-style laptop featuring a Snapdragon X Elite processor, 3K OLED display, enhanced phone-to-PC connectivity and sustainability certifications. The product could support HP’s premium-device positioning, although its near-term financial impact is uncertain. HP Googlebook 14 product announcement
• Neutral Sentiment: HP recently reported quarterly revenue of $15.68 billion and adjusted earnings of $0.83 per share, exceeding analyst expectations. However, that prior performance has been overshadowed by the company’s more cautious fiscal 2027 planning update.
• Negative Sentiment: HP said global PC unit volumes could decline by a mid-single-digit percentage in 2027 and withheld fiscal 2027 financial guidance while it assesses demand and rising component costs. The warning raises concerns about lower revenue, profitability and earnings visibility. HP braces for weaker PC demand in 2027
• Negative Sentiment: Morgan Stanley cautioned that unit and margin pressures may not be reflected in HPQ’s elevated, multi-year valuation levels. The assessment adds to investor concerns that the stock’s recent performance may be difficult to sustain if the PC downturn continues. Morgan Stanley assessment of HP margin pressures

Insider Activity

In other news, insider David McQuarrie sold 21,048 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $29.98, for a total transaction of $631,019.04. Following the completion of the transaction, the insider owned 39,580 shares in the company, valued at approximately $1,186,608.40. This represents a 34.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,096 shares of company stock valued at $1,218,890 in the last 90 days. Insiders own 0.18% of the company's stock.

About HP

HP Inc is a global technology company that develops and sells personal computing and printing products and related services. Its Personal Systems business offers laptops, desktop computers, workstations, gaming PCs, monitors, peripherals and accessories for consumers, businesses and public-sector organizations.

Through its Printing business, HP provides home and office printers, commercial printing systems, supplies such as ink and toner, and managed print services. The company also offers software and solutions designed to support device management, security, productivity and digital workflows.

HP serves customers in markets around the world through direct sales, online channels, retailers, distributors and 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.