SteelPeak Wealth LLC Has $2.51 Million Stake in HP Inc. $HPQ

Key Points

• SteelPeak Wealth LLC significantly increased its stake in HP Inc. by 1,117.4%, acquiring a total of 101,467 shares, valued at approximately $2.51 million.
• HP's stock has seen recent fluctuations, opening at $26.55, with a 12-month range between $21.21 and $39.79.
• The company reported earnings of $0.75 per share, meeting analysts' expectations, and achieved a 3.1% year-over-year revenue growth during its latest quarter.

SteelPeak Wealth LLC lifted its stake in HP Inc. (NYSE:HPQ - Free Report) by 1,117.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,467 shares of the computer maker's stock after acquiring an additional 93,132 shares during the quarter. SteelPeak Wealth LLC's holdings in HP were worth $2,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Invesco Ltd. increased its position in shares of HP by 19.2% in the first quarter. Invesco Ltd. now owns 11,340,629 shares of the computer maker's stock valued at $314,022,000 after acquiring an additional 1,829,411 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of HP by 7.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,013,184 shares of the computer maker's stock valued at $277,265,000 after acquiring an additional 724,020 shares during the last quarter. Deutsche Bank AG increased its position in shares of HP by 2.4% in the first quarter. Deutsche Bank AG now owns 8,241,378 shares of the computer maker's stock valued at $228,204,000 after acquiring an additional 189,969 shares during the last quarter. Nuveen LLC acquired a new stake in shares of HP in the first quarter valued at about $179,037,000. Finally, American Century Companies Inc. increased its position in shares of HP by 7.4% in the first quarter. American Century Companies Inc. now owns 5,308,991 shares of the computer maker's stock valued at $147,006,000 after acquiring an additional 367,418 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.

HP Stock Down 0.2%

Shares of NYSE:HPQ opened at $26.55 on Wednesday. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.79. The stock has a market cap of $24.81 billion, a PE ratio of 9.69, a P/E/G ratio of 2.14 and a beta of 1.29. The business has a 50 day moving average of $27.19 and a 200-day moving average of $26.15.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The computer maker reported $0.75 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.75. HP had a negative return on equity of 262.03% and a net margin of 4.83%.The company had revenue of $13.93 billion during the quarter, compared to analysts' expectations of $13.69 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The business's revenue was up 3.1% on a year-over-year basis. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. Equities research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

Insider Activity

In other news, CEO Enrique Lores sold 34,282 shares of HP stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $26.85, for a total value of $920,471.70. Following the completion of the sale, the chief executive officer directly owned 3 shares in the company, valued at approximately $80.55. The trade was a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Zacks Research raised HP from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. UBS Group lifted their price target on HP from $26.00 to $29.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Dbs Bank cut HP from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 11th. Sanford C. Bernstein started coverage on HP in a report on Monday, September 15th. They set a "market perform" rating and a $30.00 price target for the company. Finally, Evercore ISI reiterated an "in-line" rating and set a $29.00 price target on shares of HP in a report on Wednesday, September 10th. One research analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $29.38.

HP Company Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.