HP Inc. (NYSE:HPQ) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its position in HP Inc. (NYSE:HPQ) by 21.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 213,558 shares of the computer maker’s stock after acquiring an additional 37,669 shares during the period. Janney Montgomery Scott LLC’s holdings in HP were worth $7,660,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. LVW Advisors LLC increased its stake in HP by 1.2% in the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after purchasing an additional 278 shares during the last quarter. Castleview Partners LLC increased its stake in shares of HP by 8.1% during the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after acquiring an additional 289 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of HP by 5.9% during the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after acquiring an additional 297 shares during the period. WMG Financial Advisors LLC boosted its position in shares of HP by 4.2% in the second quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock worth $274,000 after acquiring an additional 315 shares during the last quarter. Finally, Old Port Advisors grew its holdings in HP by 3.4% in the third quarter. Old Port Advisors now owns 9,612 shares of the computer maker’s stock valued at $345,000 after purchasing an additional 317 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Up 1.2 %

HPQ opened at $37.35 on Friday. The firm’s 50 day moving average is $35.72 and its 200-day moving average is $34.59. HP Inc. has a 52-week low of $27.01 and a 52-week high of $39.52. The firm has a market capitalization of $35.99 billion, a P/E ratio of 13.10, a P/E/G ratio of 2.46 and a beta of 1.07.

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

HP announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the computer maker to buy up to 28.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HPQ shares. Morgan Stanley decreased their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price objective on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, September 27th. Finally, Barclays dropped their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. 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, the company currently has a consensus rating of “Hold” and an average target price of $35.55.

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.