Apollon Wealth Management LLC Boosts Stock Holdings in HP Inc. (NYSE:HPQ)

Apollon Wealth Management LLC grew its position in shares of HP Inc. (NYSE:HPQGet Rating) by 11.3% during the second quarter, Holdings Channel.com reports. The fund owned 12,458 shares of the computer maker’s stock after purchasing an additional 1,261 shares during the quarter. Apollon Wealth Management LLC’s holdings in HP were worth $408,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted its holdings in HP by 14.2% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 2,123,047 shares of the computer maker’s stock worth $69,593,000 after acquiring an additional 263,912 shares during the last quarter. CoreCap Advisors LLC purchased a new position in HP during the 2nd quarter worth $92,000. Toronto Dominion Bank boosted its holdings in HP by 9.8% during the 2nd quarter. Toronto Dominion Bank now owns 643,531 shares of the computer maker’s stock worth $21,091,000 after acquiring an additional 57,184 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of HP in the 2nd quarter worth about $1,086,000. Finally, Atria Investments LLC boosted its holdings in shares of HP by 2.3% in the 2nd quarter. Atria Investments LLC now owns 79,135 shares of the computer maker’s stock worth $2,594,000 after buying an additional 1,783 shares during the last quarter. 81.17% of the stock is owned by hedge funds and other institutional investors.

HP Stock Performance

Shares of HP stock opened at $29.91 on Thursday. The stock’s 50-day simple moving average is $27.02 and its 200 day simple moving average is $31.33. HP Inc. has a 52-week low of $24.08 and a 52-week high of $41.47. The stock has a market capitalization of $30.09 billion, a P/E ratio of 9.94, a P/E/G ratio of 3.02 and a beta of 0.99.

HP (NYSE:HPQGet Rating) last announced its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. HP had a negative return on equity of 196.62% and a net margin of 5.09%. The firm had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $14.68 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The company’s revenue was down 11.2% on a year-over-year basis. Equities research analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be given a dividend of $0.2625 per share. This is a boost from HP’s previous quarterly dividend of $0.25. This represents a $1.05 annualized dividend and a dividend yield of 3.51%. HP’s dividend payout ratio is currently 33.22%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HPQ. StockNews.com began coverage on shares of HP in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of HP from $36.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, August 31st. Barclays cut their price target on shares of HP from $27.00 to $24.00 and set an “underweight” rating on the stock in a report on Wednesday. Morgan Stanley cut their price target on shares of HP from $28.00 to $24.00 and set an “underweight” rating on the stock in a report on Monday, October 17th. Finally, Bank of America cut their price target on shares of HP from $30.00 to $27.00 and set an “underperform” rating on the stock in a report on Friday, November 18th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, HP currently has a consensus rating of “Hold” and an average target price of $29.71.

Insider Activity

In other news, CEO Enrique Lores sold 34,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $25.23, for a total transaction of $857,820.00. Following the sale, the chief executive officer now directly owns 517,204 shares in the company, valued at $13,049,056.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.22% of the company’s stock.

HP Company Profile

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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.

See Also

Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc. (NYSE:HPQGet Rating).

Institutional Ownership by Quarter for HP (NYSE:HPQ)

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