HP (NYSE:HPQ) stock investors are feeling the heat on Monday morning after Warren Buffett sold shares of HPQ stock.
Specifically, filing with the U.S. Securities and Exchange Commission (SEC) reveals that Buffett’s Berkshire Hathaway (NYSE:BRK-A, NYSE:BRK-B) sold shares of HPQ through a few transactions last week.
Here’s a quick breakdown of those sales.
- Around 1.66 million shares sold at an average price of $27.20 on Sept. 20.
- Around 1.78 million shares sold at an average price of $26.91 on Sept. 21.
- Roughly 1.33 million shares sold at an average price of $26.80 on Sept. 22.
While it is true that Berkshire Hathaway sold shares of HPQ stock, that doesn’t mean the legendary investor is giving up on the company. Following these sales, Buffett still holds 110.66 million shares of HPQ through the 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 third-quarter 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 company.
HPQ stock is largely unmoved as of Monday morning.
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