Apollon Wealth Management LLC Grows Stake in HP Inc. (NYSE:HPQ)

Apollon Wealth Management LLC grew its holdings in shares of HP Inc. (NYSE:HPQ) by 5.8% in the 3rd quarter, HoldingsChannel.com reports. The firm 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 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in HP in the third quarter valued at about $25,000. Triad Wealth Partners LLC purchased a new position in shares of HP in the 2nd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HP in the 2nd quarter worth approximately $34,000. Wolff Wiese Magana LLC grew its position in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of HP in the third quarter worth $37,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Trading Up 0.6 %

Shares of HPQ stock opened at $36.72 on Friday. The company has a market capitalization of $35.39 billion, a P/E ratio of 12.88, a P/E/G ratio of 2.52 and a beta of 1.07. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.52. The business’s 50 day moving average is $35.91 and its two-hundred day moving average is $34.92.

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

HP declared that its board has authorized a stock buyback program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HPQ shares. UBS Group upped their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised 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. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, September 27th. Morgan Stanley reduced their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, Loop Capital dropped their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.55.

Insider Activity at HP

In related 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 value of $7,013,373.16. Following the completion of the transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. This represents a 100.00 % decrease in their position. The transaction 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 currently owned by corporate 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.