HP Inc. $HPQ Stock: Sumitomo Mitsui Trust Group Inc. Lowers Holdings

Sumitomo Mitsui Trust Group Inc. trimmed its position in HP Inc. (NYSE:HPQ) by 4.2% in the third quarter, Holdings Channel reports. The fund owned 2,009,698 shares of the computer maker’s stock after selling 88,885 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in HP were worth $62,863,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. North Point Portfolio Managers Corp OH bought a new stake in HP during the 3rd quarter worth $28,000. Compass Wealth Management LLC acquired a new position in HP in the 3rd quarter worth about $38,000. Ashton Thomas Securities LLC acquired a new position in HP in the 3rd quarter worth about $39,000. Aberdeen Wealth Management LLC bought a new position in HP in the second quarter valued at about $29,000. Finally, MCF Advisors LLC raised its position in HP by 149.0% in the second quarter. MCF Advisors LLC now owns 1,337 shares of the computer maker’s stock valued at $29,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Down 0.6%

Shares of HP stock opened at $28.26 on Wednesday. The stock has a market cap 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 twelve month low of $17.56 and a twelve month high of $36.22. The company’s fifty day moving average is $31.69 and its 200 day moving average is $24.62.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.17. The business had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.44 billion. HP had a negative return on equity of 947.78% and a net margin of 4.14%. HP’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company 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. As a group, equities analysts anticipate that HP Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Activity

In other news, insider David McQuarrie sold 31,572 shares of the stock in a transaction dated Friday, October 2nd. The stock was 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 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 SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the insider 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 71,617 shares of company stock valued at $2,263,654. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group lifted their price target on HP from $21.00 to $22.00 and gave the company a “sell” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. boosted their price target on HP from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, August 25th. Bank of America reaffirmed an “underperform” rating on shares of HP in a research note on Thursday, August 27th. Morgan Stanley raised their price objective on shares of HP from $17.00 to $19.00 in a report on Thursday, August 27th. Finally, Evercore lifted their target price on shares of HP from $25.00 to $32.00 in a research report on Thursday, October 8th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $26.30.

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.