Empirical Finance LLC Increases Stake in HP Inc. (HPQ)
Empirical Finance LLC lifted its stake in shares of HP Inc. (NYSE:HPQ) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,956 shares of the computer maker’s stock after purchasing an additional 523 shares during the period. Empirical Finance LLC’s holdings in HP were worth $1,328,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. lifted its position in shares of HP by 63.3% during the second quarter. Raymond James Trust N.A. now owns 25,117 shares of the computer maker’s stock worth $439,000 after purchasing an additional 9,736 shares in the last quarter. Summit Global Investments acquired a new position in HP in the second quarter valued at approximately $513,000. Dai Ichi Life Insurance Company Ltd lifted its holdings in HP by 1.1% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 128,969 shares of the computer maker’s stock valued at $2,254,000 after buying an additional 1,378 shares during the period. Skba Capital Management LLC lifted its holdings in HP by 43.2% in the second quarter. Skba Capital Management LLC now owns 694,300 shares of the computer maker’s stock valued at $12,136,000 after buying an additional 209,600 shares during the period. Finally, Aberdeen Asset Management PLC UK lifted its holdings in HP by 42.5% in the second quarter. Aberdeen Asset Management PLC UK now owns 3,444,156 shares of the computer maker’s stock valued at $60,204,000 after buying an additional 1,026,764 shares during the period. Institutional investors own 79.15% of the company’s stock.
HP Inc. (HPQ) traded up 0.64% on Tuesday, reaching $19.31. 2,142,200 shares of the company were exchanged. The stock has a market capitalization of $32.46 billion, a P/E ratio of 14.03 and a beta of 1.93. The company’s 50-day moving average price is $19.13 and its 200-day moving average price is $18.35. HP Inc. has a 12-month low of $13.77 and a 12-month high of $19.78.
HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The business had revenue of $13.06 billion during the quarter, compared to analyst estimates of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. HP’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 EPS. Equities research analysts anticipate that HP Inc. will post $1.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be paid a $0.1327 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $0.53 annualized dividend and a dividend yield of 2.75%. HP’s payout ratio is 38.41%.
In other news, insider Marie Myers sold 11,752 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $19.25, for a total value of $226,226.00. Following the completion of the sale, the insider now owns 11,752 shares in the company, valued at approximately $226,226. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Margaret C. Whitman sold 73,992 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $17.70, for a total transaction of $1,309,658.40. Following the completion of the sale, the director now owns 544,881 shares of the company’s stock, valued at approximately $9,644,393.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,725,567 shares of company stock valued at $32,210,686. Company insiders own 0.62% of the company’s stock.
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Several equities analysts recently weighed in on the stock. UBS AG restated a “buy” rating and issued a $22.00 price objective (up from $20.00) on shares of HP in a report on Thursday, May 25th. BidaskClub lowered shares of HP from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and issued a $14.00 price objective on shares of HP in a report on Thursday, August 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $20.00 price objective (up from $18.00) on shares of HP in a report on Friday, May 19th. Finally, J P Morgan Chase & Co restated a “neutral” rating and issued a $19.50 price objective on shares of HP in a report on Thursday, August 24th. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. HP currently has a consensus rating of “Buy” and a consensus price target of $20.57.
HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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