Empirical Finance LLC Has $1.84 Million Stock Position in HP Inc. (NYSE:HPQ)

Empirical Finance LLC grew its position in shares of HP Inc. (NYSE:HPQ) by 47.0% in the second quarter, HoldingsChannel reports. The fund owned 52,583 shares of the computer maker’s stock after acquiring an additional 16,819 shares during the period. Empirical Finance LLC’s holdings in HP were worth $1,841,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of HPQ. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of HP by 14.0% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 103,537 shares of the computer maker’s stock valued at $3,626,000 after buying an additional 12,753 shares during the last quarter. Arjuna Capital acquired a new stake in shares of HP in the 2nd quarter valued at approximately $3,508,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of HP by 395.2% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 764,320 shares of the computer maker’s stock valued at $26,766,000 after buying an additional 609,972 shares during the last quarter. Bank OZK acquired a new stake in shares of HP in the 2nd quarter valued at approximately $224,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of HP by 293.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 708,889 shares of the computer maker’s stock valued at $24,825,000 after buying an additional 528,627 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group increased their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday. Citigroup raised their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Morgan Stanley cut their price target on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday. TD Cowen raised their price target on HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Finally, Barclays cut their price target on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.60.

HP Price Performance

HPQ stock opened at $36.18 on Friday. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52. The stock has a market capitalization of $35.40 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 2.24 and a beta of 1.09. The business’s fifty day moving average price is $35.48 and its two-hundred day moving average price is $32.38.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a negative return on equity of 230.39% and a net margin of 5.60%. The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts expect that HP Inc. will post 3.45 EPS for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s payout ratio is currently 37.16%.

Insider Buying and Selling

In related news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now owns 64,676 shares in the company, valued at $2,335,450.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.

HP Profile

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.