HP Shares Fall After Warren Buffett's Berkshire Hathaway Sells Large Stake

By
Bill McColl
Bill McColl
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Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time.

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Published September 14, 2023
Hewlett-Packard office

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Key Takeaways

  • Warren Buffett's Berkshire Hathaway sold off 4.5% of its holdings in HP.
  • Berkshire Hathaway made an initial investment in the PC and printer maker in April 2022.
  • HP cut its full-year guidance last month, warning of softness in the market.

HP Inc. (HPQ) shares were down more than 2% in midday trading on Thursday after Warren Buffett’s Berkshire Hathaway (BRK.A) disclosed it reduced its holdings in the PC and printer maker by 4.5% this week.

Berkshire Hathaway reported in a regulatory filing it sold off 5.5 million shares of HP over the past three days. It now owns 115.5 million shares.

The Berkshire stake is valued at $3.27 billion based on Wednesday’s closing price of $28.33 a share. It’s estimated that Buffett’s firm holds 11.7% of HP stock. In April 2022, Berkshire Hathaway initially bought 109.8 million shares of HP valued at $4.2 billion, and made three additional purchases after that.

The latest moves by Berkshire come about two weeks after HP cut its full-year profit forecast as it warned the demand for PCs and printers has softened. 

Shares of HP spiked following news of that first Berkshire Hathaway investment, but have since lost almost one-third of their value. They had hit an 11-month high in July before falling, and are up about 3% for 2023.

HPQ share price history

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  1. Securities and Exchange Commission. "STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP."

  2. Securities and Exchange Commission. "INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES."

  3. HP. “HP Inc. Reports Fiscal 2023 Third-Quarter Results.”

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