Apollon Wealth Management LLC boosted its position in shares of HP Inc. (NYSE:HPQ – Get Rating) by 11.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,458 shares of the computer maker’s stock after buying an additional 1,261 shares during the period. Apollon Wealth Management LLC’s holdings in HP were worth $408,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its stake in shares of HP by 41.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 7,016,972 shares of the computer maker’s stock valued at $254,716,000 after purchasing an additional 2,061,479 shares in the last quarter. State Street Corp boosted its stake in shares of HP by 1.7% in the 1st quarter. State Street Corp now owns 57,873,437 shares of the computer maker’s stock valued at $2,115,148,000 after purchasing an additional 980,653 shares in the last quarter. Bank of Montreal Can boosted its position in HP by 1,041.3% during the 2nd quarter. Bank of Montreal Can now owns 768,463 shares of the computer maker’s stock worth $30,468,000 after buying an additional 850,104 shares during the period. Ergoteles LLC boosted its position in HP by 197.4% during the 1st quarter. Ergoteles LLC now owns 1,097,094 shares of the computer maker’s stock worth $39,825,000 after buying an additional 728,257 shares during the period. Finally, BlackRock Inc. boosted its position in HP by 0.6% during the 1st quarter. BlackRock Inc. now owns 101,201,027 shares of the computer maker’s stock worth $3,673,596,000 after buying an additional 573,468 shares during the period. 81.17% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $25.23, for a total value of $857,820.00. Following the completion of the sale, the chief executive officer now owns 517,204 shares of the company’s stock, valued at approximately $13,049,056.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.22% of the stock is currently owned by company insiders.
HP Stock Up 1.8 %
HP (NYSE:HPQ – Get Rating) last released its quarterly earnings data 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. The company had revenue of $14.80 billion during the quarter, compared to analyst estimates of $14.68 billion. HP had a net margin of 5.09% and a negative return on equity of 196.62%. HP’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 EPS. On average, analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.
HP Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be paid a $0.2625 dividend. This represents a $1.05 annualized dividend and a dividend yield of 3.51%. This is a positive change from HP’s previous quarterly dividend of $0.25. HP’s payout ratio is currently 33.22%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Bank of America cut their target price on shares of HP from $30.00 to $27.00 and set an “underperform” rating on the stock in a research report on Friday, November 18th. Loop Capital downgraded shares of HP from a “buy” rating to a “hold” rating and cut their target price for the stock from $50.00 to $29.00 in a research report on Thursday, September 1st. Citigroup cut their target price on shares of HP from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, November 18th. Barclays cut their target price on shares of HP from $27.00 to $24.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, UBS Group lowered their price target on shares of HP from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, August 31st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $29.71.
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.
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