Warren Buffett Was Right About These 3 Stocks

2. HP Inc. (NYSE:HPQ)

Number of Hedge Fund Holders: 35

Percentage Increase in Share Price (YTD): 6.37%

HP Inc. (NYSE:HPQ) is a personal computing firm. At the end of the first quarter of 2022, Berkshire Hathaway owned over 104 million shares of the firm worth $3.7 billion, representing 1.04% of the portfolio. This is a new position of the fund since Berkshire has not previously held the stock. The firm posted earnings for the second quarter on May 31, reporting earnings per share of $1.08, beating market estimates by $0.03. The revenue for the period was $16.5 billion, up close to 4% compared to the revenue over the same period last year. 

On May 25, JPMorgan analyst Samik Chatterjee maintained a Neutral rating on HP Inc. (NYSE:HPQ) stock and lowered the price target to $39 from $41, noting that the valuations in the IT sector were yet to bottom in a challenging environment. 

Among the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm AQR Capital Management is a leading shareholder in HP Inc. (NYSE:HPQ), with 3 million shares worth more than $114 million. 

At the end of the first quarter of 2022, 35 hedge funds in the database of Insider Monkey held stakes worth $4.1 billion in HP Inc. (NYSE:HPQ), compared to 39 the preceding quarter worth $963 million.