Empower Advisory Group LLC Purchases Shares of 13,127 HP Inc. (NYSE:HPQ)

Empower Advisory Group LLC purchased a new stake in shares of HP Inc. (NYSE:HPQ) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,127 shares of the computer maker’s stock, valued at approximately $392,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ballentine Partners LLC boosted its stake in shares of HP by 0.9% during the first quarter. Ballentine Partners LLC now owns 39,761 shares of the computer maker’s stock valued at $1,167,000 after purchasing an additional 373 shares during the period. Vantage Consulting Group Inc boosted its stake in shares of HP by 2.1% during the first quarter. Vantage Consulting Group Inc now owns 18,550 shares of the computer maker’s stock valued at $544,000 after purchasing an additional 386 shares during the period. KCM Investment Advisors LLC boosted its stake in shares of HP by 4.4% during the first quarter. KCM Investment Advisors LLC now owns 9,551 shares of the computer maker’s stock valued at $347,000 after purchasing an additional 400 shares during the period. Addison Advisors LLC boosted its stake in shares of HP by 8.2% during the first quarter. Addison Advisors LLC now owns 5,389 shares of the computer maker’s stock valued at $158,000 after purchasing an additional 409 shares during the period. Finally, Empirical Finance LLC boosted its stake in shares of HP by 1.4% during the first quarter. Empirical Finance LLC now owns 30,771 shares of the computer maker’s stock valued at $903,000 after purchasing an additional 428 shares during the period. 76.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HPQ shares. StockNews.com raised HP from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Citigroup dropped their price target on HP from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, August 30th. Deutsche Bank Aktiengesellschaft dropped their price target on HP from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, August 30th. Morgan Stanley dropped their price target on HP from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 30th. Finally, UBS Group raised their price target on HP from $30.00 to $31.00 in a research note on Wednesday, May 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.73.

HP Trading Down 1.7 %

Shares of HP stock opened at $27.34 on Friday. The firm has a market capitalization of $27.02 billion, a P/E ratio of 11.78, a P/E/G ratio of 2.14 and a beta of 1.02. The business has a fifty day simple moving average of $31.50 and a two-hundred day simple moving average of $30.28. HP Inc. has a 12 month low of $24.08 and a 12 month high of $33.90.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, August 29th. The computer maker reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86. HP had a negative return on equity of 113.55% and a net margin of 4.23%. The business had revenue of $13.20 billion during the quarter, compared to analyst estimates of $13.38 billion. During the same quarter last year, the firm posted $1.04 earnings per share. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. Analysts predict that HP Inc. will post 3.3 earnings per share for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be issued a dividend of $0.2625 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.05 annualized dividend and a dividend yield of 3.84%. HP’s payout ratio is presently 45.26%.

Insider Activity

In other news, insider Alex Cho sold 22,490 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $30.50, for a total transaction of $685,945.00. Following the completion of the transaction, the insider now directly owns 22,003 shares in the company, valued at $671,091.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Alex Cho sold 22,490 shares of HP stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $30.50, for a total value of $685,945.00. Following the completion of the sale, the insider now directly owns 22,003 shares in the company, valued at approximately $671,091.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marie Myers sold 4,165 shares of HP stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $30.70, for a total value of $127,865.50. Following the completion of the sale, the chief financial officer now owns 30,611 shares of the company’s stock, valued at $939,757.70. The disclosure for this sale can be found here. Insiders sold 4,030,824 shares of company stock worth $116,034,788 over the last three months. 0.32% of the stock is currently owned by corporate insiders.

HP Company 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.