Empowered Funds LLC Sells 213,726 Shares of HP Inc. $HPQ

Key Points

• Empowered Funds LLC reduced its holdings in HP Inc. by 60.2% in the first quarter, owning 141,314 shares worth approximately $3.91 million after selling 213,726 shares.
• While Empowered Funds divested, several large investors, including Coppell Advisory Solutions LLC and Bleakley Financial Group LLC, increased their positions in HP during the same period.
• HP reported $0.75 earnings per share for the last quarter, meeting analysts' expectations, and projected a quarterly revenue of $13.93 billion, up 3.1% year-over-year.

Empowered Funds LLC reduced its position in HP Inc. (NYSE:HPQ - Free Report) by 60.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,314 shares of the computer maker's stock after selling 213,726 shares during the period. Empowered Funds LLC's holdings in HP were worth $3,913,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HPQ. Nuveen LLC acquired a new position in shares of HP during the 1st quarter valued at about $179,037,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of HP during the 4th quarter valued at about $63,612,000. Invesco Ltd. increased its holdings in shares of HP by 19.2% during the 1st quarter. Invesco Ltd. now owns 11,340,629 shares of the computer maker's stock valued at $314,022,000 after acquiring an additional 1,829,411 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of HP by 96.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,332,414 shares of the computer maker's stock valued at $64,642,000 after acquiring an additional 1,147,342 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new position in shares of HP during the 1st quarter valued at about $22,377,000. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Stock Performance

Shares of NYSE:HPQ traded down $0.22 during trading on Monday, hitting $27.75. 8,789,877 shares of the stock were exchanged, compared to its average volume of 9,151,523. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.79. The company has a market capitalization of $25.94 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 2.25 and a beta of 1.29. The company's fifty day simple moving average is $26.55 and its 200-day simple moving average is $26.33.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The computer maker reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. HP had a negative return on equity of 262.03% and a net margin of 4.83%.The company had revenue of $13.93 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter last year, the firm earned $0.83 EPS. HP's revenue for the quarter was up 3.1% compared to the same quarter last year. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. On average, research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HPQ has been the topic of a number of research analyst reports. Dbs Bank lowered HP from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 11th. Morgan Stanley lowered their target price on HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, May 29th. Evercore ISI reaffirmed an "in-line" rating and issued a $29.00 target price on shares of HP in a report on Wednesday, September 10th. KGI Securities initiated coverage on HP in a report on Thursday, May 29th. They issued a "neutral" rating on the stock. Finally, UBS Group raised their target price on HP from $26.00 to $29.00 and gave the company a "neutral" rating in a report on Thursday, August 28th. One equities research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $29.71.

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.