HP Inc. $HPQ Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its stake in HP Inc. (NYSE:HPQ) by 24.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 127,537 shares of the computer maker’s stock after selling 41,888 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in HP were worth $3,989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HPQ. BlackRock Inc. acquired a new position in HP during the second quarter valued at approximately $2,357,757,000. Primecap Management Co. CA bought a new position in shares of HP in the second quarter valued at approximately $545,984,000. Legal & General Group Plc acquired a new stake in shares of HP in the second quarter worth $180,689,000. Man Group plc acquired a new stake in shares of HP in the second quarter worth $149,223,000. Finally, Deutsche Bank AG bought a new stake in shares of HP during the 2nd quarter worth $140,172,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider David McQuarrie sold 31,572 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider 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 Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 73,668 shares of company stock worth $2,232,982. Insiders own 0.18% of the company’s stock.

HP Trading Up 8.0%

Shares of HPQ stock opened at $33.82 on Friday. HP Inc. has a 1 year low of $17.56 and a 1 year high of $36.22. The firm’s fifty day simple moving average is $31.47 and its 200 day simple moving average is $26.37. The firm has a market capitalization of $30.50 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 1.63 and a beta of 1.17.

HP (NYSE:HPQ) last released its earnings results 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 firm had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.44 billion. During the same period in the prior year, the company earned $0.75 EPS. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. 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 anticipate that HP Inc. will post 3.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on HPQ. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $32.00 price objective on shares of HP in a report on Thursday, August 27th. Morgan Stanley dropped their target price 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. Wall Street Zen lowered shares of HP from a “buy” rating to a “hold” rating in a research report on Saturday, September 26th. Royal Bank Of Canada assumed coverage on shares of HP in a research report on Thursday, September 10th. They set a “sector perform” rating and a $33.00 target price for the company. Finally, Evercore set a $32.00 price target on shares of HP in a report on Monday, August 24th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $25.42.

HP Company 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.