Empirical Finance LLC increased its holdings in HP Inc. (NYSE:HPQ - Free Report) by 27.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,057 shares of the computer maker's stock after purchasing an additional 14,778 shares during the period. Empirical Finance LLC's holdings in HP were worth $2,221,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in shares of HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker's stock worth $1,871,046,000 after buying an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC boosted its stake in HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock worth $885,877,000 after buying an additional 2,477,977 shares during the period. KBC Group NV increased its position in HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock valued at $116,031,000 after acquiring an additional 2,105,104 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker's stock worth $508,791,000 after acquiring an additional 1,455,138 shares during the last quarter. Finally, Bridgewater Associates LP boosted its stake in shares of HP by 2,649.5% during the 3rd quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker's stock worth $47,298,000 after purchasing an additional 1,270,642 shares during the period. 77.53% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently issued reports on HPQ. TD Cowen boosted their price objective on HP from $32.00 to $39.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Sanford C. Bernstein boosted their price target on HP from $32.00 to $34.00 and gave the company a "market perform" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. decreased their target price on HP from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. HSBC downgraded HP from a "buy" rating to a "hold" rating and decreased their price objective for the company from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Citigroup reduced their price target on shares of HP from $37.00 to $36.50 and set a "neutral" rating for the company in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $36.23.
Check Out Our Latest Stock Report on HPQ
Insider Transactions at HP
In other HP news, insider Stephanie Liebman sold 11,000 shares of the business's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. The trade was a 63.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the sale, the insider now directly owns 64,676 shares of the company's stock, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock worth $9,670,068 in the last 90 days. Insiders own 0.41% of the company's stock.
HP Stock Up 0.8 %
Shares of NYSE:HPQ traded up $0.26 during trading on Thursday, hitting $33.30. 5,393,338 shares of the stock traded hands, compared to its average volume of 5,896,946. The company has a fifty day moving average price of $33.28 and a two-hundred day moving average price of $34.86. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The company has a market cap of $31.23 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 2.78 and a beta of 1.05.
HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same period in the prior year, the company posted $0.90 EPS. The business's quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.
HP Announces Dividend
The company also recently announced 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 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Wednesday, March 12th. HP's dividend payout ratio (DPR) is presently 41.28%.
About HP
(
Free Report)
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.
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