Apollon Wealth Management LLC Buys 1,129 Shares of HP Inc. (NYSE:HPQ)

Apollon Wealth Management LLC lifted its position in HP Inc. (NYSE:HPQ) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,676 shares of the computer maker’s stock after purchasing an additional 1,129 shares during the quarter. Apollon Wealth Management LLC’s holdings in HP were worth $742,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of HP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after acquiring an additional 3,062,441 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in HP during the second quarter valued at $62,672,000. DME Capital Management LP lifted its position in HP by 108.7% during the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after purchasing an additional 1,757,070 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of HP by 6.2% in the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after buying an additional 1,319,731 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of HP by 11.3% in the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock worth $375,079,000 after buying an additional 1,089,848 shares during the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HPQ. JPMorgan Chase & Co. boosted their price objective on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Tuesday, October 1st. UBS Group raised their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Loop Capital reduced their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, HP presently has a consensus rating of “Hold” and a consensus target price of $35.55.

HP Stock Performance

Shares of NYSE:HPQ opened at $36.72 on Friday. The firm’s 50 day simple moving average is $35.91 and its 200-day simple moving average is $34.92. HP Inc. has a one year low of $27.42 and a one year high of $39.52. The firm has a market cap of $35.39 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts predict that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its board has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

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.