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HP (NYSE:HPQ) stock investors are feeling the heat on Monday morning after Warren Buffett sold shares of HPQ.
A filing with the Securities and Exchange Commission (SEC) reveals that Buffett’s Berkshire Hathaway (NYSE:BRK-A,NYSE:BRK-B) sold shares of HPQ stock through a few transactions last week.
Here’s a quick breakdown of those sales.
- 1,668,707 shares sold at an average price of $27.2002 on 9/20/2023.
- 1,786,035 shares sold at an average price of $26.9166 on 9/21/2023.
- 1,333,730 shares sold at an average price of $26.8043 on 9/22/2023.
While it is true that Buffett’s Berkshire Hathaway sold shares of HPQ, that doesn’t mean the legendary investor is giving up on the company. Following these sales, Buffett still holds 110,662,174 shares of HPQ stock through his investment firm.
What’s Behind The HPQ Stock Sale?
While there’s not a clear reason for Buffett selling shares of HPQ stock, we do have one guess. The investor previously sold shares of HP stock last month after the company’s uninspired Q3 earnings.
It could be that Buffett is still selling the company’s stock following those latest earnings results. Investors will note that even after these stock sales, Buffett continues to hold an 11.2% stake in the computer company.
HPW stock is largely unmoved as of Monday morning.
There are even more stock market stories that traders are going to want to read about down below!
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