HP Inc. $HPQ Stock: Hohimer Wealth Management LLC Reduces Stake

by · The Markets Daily

Hohimer Wealth Management LLC reduced its stake in shares of HP Inc. (NYSE:HPQ – Free Report) by 93.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,017 shares of the computer maker’s stock after selling 133,813 shares during the quarter. Hohimer Wealth Management LLC’s holdings in HP were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of HP by 39.0% during the third quarter. Brighton Jones LLC now owns 52,585 shares of the computer maker’s stock worth $1,645,000 after acquiring an additional 14,753 shares during the last quarter. Cullinan Associates Inc. grew its stake in HP by 2.7% during the third quarter. Cullinan Associates Inc. now owns 194,427 shares of the computer maker’s stock valued at $6,082,000 after acquiring an additional 5,100 shares in the last quarter. Ethic Inc. increased its holdings in HP by 33.1% in the 3rd quarter. Ethic Inc. now owns 116,882 shares of the computer maker’s stock valued at $3,656,000 after acquiring an additional 29,070 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in HP by 0.7% in the 3rd quarter. Pictet Asset Management Holding SA now owns 401,719 shares of the computer maker’s stock valued at $12,566,000 after acquiring an additional 2,910 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in HP in the 3rd quarter valued at $184,000. Institutional investors own 77.53% of the company’s stock.

Analyst Ratings Changes

HPQ has been the topic of several research analyst reports. Bank of America reiterated an “underperform” rating on shares of HP in a research note on Thursday, August 27th. JPMorgan Chase & Co. raised their price objective on HP from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, August 25th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $32.00 target price (up from $27.00) on shares of HP in a report on Thursday, August 27th. UBS Group lifted their target price on HP from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Finally, Weiss Ratings upgraded HP from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, November 3rd. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, HP has an average rating of “Hold” and a consensus price target of $26.30.

Get Our Latest Research Report on HPQ

Insider Buying and Selling at HP

In other news, insider Anneliese Olson sold 18,997 shares of the business’s stock in a transaction dated Thursday, October 29th. The shares were 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 in the company, valued at $5,502.64. The trade was a 99.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $32.12, for a total transaction of $1,014,092.64. Following the completion of the sale, the insider owned 8,008 shares in the company, valued at approximately $257,216.96. This trade represents a 79.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.18% of the stock is owned by company insiders.

HP Stock Performance

NYSE HPQ opened at $28.48 on Wednesday. The company has a market capitalization of $25.68 billion, a P/E ratio of 8.24, a P/E/G ratio of 1.54 and a beta of 1.16. HP Inc. has a one year low of $17.56 and a one year high of $36.22. The stock has a 50 day moving average price of $31.57 and a 200-day moving average price of $24.84.

HP (NYSE:HPQ – Get Free Report) last posted 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. 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 analyst estimates of $14.44 billion. During the same period last year, the firm posted $0.75 earnings per share. HP’s revenue for the quarter 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. As a group, equities analysts predict that HP Inc. will post 3.23 EPS for the current fiscal year.

About HP

(Free Report)

HP Inc. is a global technology company that develops and sells personal computing and printing products and services. Its offerings include laptops, desktop computers, workstations, displays, accessories and peripherals, as well as printers, printing supplies and related solutions for consumers, businesses and public-sector customers. The company organizes its business around Personal Systems and Printing. In addition to hardware, HP provides services and solutions such as device management and managed print services, and it offers technologies for commercial and industrial printing.

See Also

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