Dodge & Cox Cuts HP Inc. Stake to 7.0% as of Dec 31, 2023

TL;DR

**Dodge & Cox just trimmed their HP Inc. stake to 7.0%, a notable reduction by a big player.**

AI Summary

Dodge & Cox, an investment management firm, filed an amended SC 13G/A on February 13, 2024, indicating a change in their ownership of HP Inc. common stock as of December 31, 2023. They now beneficially own 69,949,273 shares, representing 7.0% of HP Inc.'s outstanding common stock. This is a decrease from their previous reported ownership, which matters to investors as it signals a major institutional investor has reduced its stake, potentially due to a change in their investment outlook or portfolio rebalancing.

Why It Matters

A significant reduction in ownership by a major institutional investor like Dodge & Cox can signal a shift in sentiment or a re-evaluation of HP Inc.'s future prospects, which could influence other investors' decisions.

Risk Assessment

Risk Level: medium — While not a massive sell-off, a reduction by a large institutional holder like Dodge & Cox could indicate a perceived increase in risk or a less favorable outlook for HP Inc.

Analyst Insight

An investor should note this reduction by a major institutional holder as a potential signal of changing sentiment. While not a definitive sell signal, it warrants further investigation into HP Inc.'s fundamentals and recent news to understand why Dodge & Cox might have reduced their stake.

Key Numbers

• 69,949,273 — Shares Beneficially Owned (This is the total number of HP Inc. common shares Dodge & Cox now owns.)
• 7.0% — Percentage of Class (This represents Dodge & Cox's current ownership stake in HP Inc., indicating a decrease from previous filings.)
• December 31, 2023 — Reporting Date (This is the snapshot date for the ownership data, showing the position at year-end.)

Key Players & Entities

• Dodge & Cox (company) — the investment management firm reporting the change in ownership
• HP Inc. (company) — the subject company whose shares are being reported
• 69,949,273 shares (dollar_amount) — the total number of shares beneficially owned by Dodge & Cox
• 7.0% (dollar_amount) — the percentage of HP Inc.'s common stock beneficially owned by Dodge & Cox
• December 31, 2023 (date) — the date of the event requiring the filing
• February 13, 2024 (date) — the filing date of the SC 13G/A amendment

Forward-Looking Statements

• Other institutional investors may re-evaluate their positions in HP Inc. following Dodge & Cox's reduction. (HP Inc.) — medium confidence, target: Q1 2024
• HP Inc.'s stock price might experience minor downward pressure or increased volatility in the short term due to this news. (HP Inc.) — low confidence, target: February 2024

FAQ

From the Filing

0001193125-24-033413.txt : 20240213 0001193125-24-033413.hdr.sgml : 20240213 20240213133956 ACCESSION NUMBER: 0001193125-24-033413 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HP INC CENTRAL INDEX KEY: 0000047217 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER & OFFICE EQUIPMENT [3570] ORGANIZATION NAME: 06 Technology IRS NUMBER: 941081436 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-12061 FILM NUMBER: 24624376 BUSINESS ADDRESS: STREET 1: 1501 PAGE MILL ROAD CITY: PALO ALTO STATE: CA ZIP: 94304 BUSINESS PHONE: 6508571501 MAIL ADDRESS: STREET 1: 1501 PAGE MILL ROAD CITY: PALO ALTO STATE: CA ZIP: 94304 FORMER COMPANY: FORMER CONFORMED NAME: HEWLETT PACKARD CO DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DODGE & COX CENTRAL INDEX KEY: 0000200217 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 555 CALIFORNIA STREET STREET 2: 40TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94104 BUSINESS PHONE: 4159811710 MAIL ADDRESS: STREET 1: 555 CALIFORNIA STREET STREET 2: 40TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94104 SC 13G/A 1 d758890dsc13ga.htm SC 13G/A SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 15)* HP INC. (Name of Issuer) Common Stock (Title of Class of Securities) 40434L105 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). PAGE 1 OF 5 PAGES CUSIP NO. 40434L105 13G PAGE 2 OF 5 PAGES  1   NAME OF REPORTING PERSON  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON  Dodge & Cox          94-1441976  2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*  (a) ☐  (b) ☐  N/A  3  SEC USE ONLY  4  CITIZENSHIP OR PLACE OF ORGANIZATION  California - U.S.A. NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH 5   SOLE VOTING POWER  33,921,784 6  SHARED VOTING POWER  0 7  SOLE DISPOSITIVE POWER  35,413,307 8  SHARED DISPOSITIVE POWER  0  9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  35,413,307 10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*  N/A 11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9  3.6% 12  TYPE OF REPORTING PERSON*  IA PAGE 2 OF 5 PAGES Item 1(a) Name of Issuer : HP INC. Item 1(b) Address of Issuer’s Principal Executive Offices : 1501 Page Mill Road Palo Alto, California 94304 Item 2(a) Name of Person Filing : Dodge & Cox Item 2(b) Address of the Principal Office or, if none, Residence : 555 California Street, 40th Floor San Francisco, CA 94104 It