HP Inc. (NYSE:HPQ) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC increased its stake in shares of HP Inc. (NYSE:HPQ) by 158.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,040 shares of the computer maker’s stock after purchasing an additional 217,910 shares during the quarter. Empowered Funds LLC’s holdings in HP were worth $11,585,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in HP during the 3rd quarter worth $25,000. Synergy Asset Management LLC acquired a new position in HP during the 4th quarter worth $26,000. Wolff Wiese Magana LLC grew its stake in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in HP during the 3rd quarter worth $37,000. Finally, Itau Unibanco Holding S.A. acquired a new position in HP during the 3rd quarter worth $40,000. 77.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HPQ has been the subject of several analyst reports. Citigroup lowered their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. TD Cowen upped their price objective on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. HSBC cut HP from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. JPMorgan Chase & Co. lowered their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein upped their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.23.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the transaction, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock valued at $9,670,068 in the last ninety days. Insiders own 0.41% of the company’s stock.

HP Stock Down 1.0 %

HPQ opened at $32.26 on Friday. The business has a 50 day moving average price of $33.49 and a two-hundred day moving average price of $34.96. The company has a market cap of $30.25 billion, a PE ratio of 11.48, a P/E/G ratio of 2.78 and a beta of 1.05. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. As a group, sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is presently 41.28%.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.