Janney Montgomery Scott LLC Buys 37,669 Shares of HP Inc. (NYSE:HPQ)

Janney Montgomery Scott LLC increased its stake in HP Inc. (NYSE:HPQ - Free Report) by 21.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 213,558 shares of the computer maker's stock after purchasing an additional 37,669 shares during the quarter. Janney Montgomery Scott LLC's holdings in HP were worth $7,660,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HPQ. Triad Wealth Partners LLC bought a new stake in HP in the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HP during the second quarter worth approximately $34,000. Wolff Wiese Magana LLC increased its holdings in shares of HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker's stock valued at $35,000 after buying an additional 518 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of HP during the 3rd quarter valued at $37,000. Finally, DecisionPoint Financial LLC bought a new stake in shares of HP during the 2nd quarter worth $43,000. 77.53% of the stock is currently owned by institutional investors.

HP Price Performance

Shares of HPQ stock traded down $0.31 on Friday, reaching $37.03. 2,579,842 shares of the stock were exchanged, compared to its average volume of 7,750,920. HP Inc. has a one year low of $27.01 and a one year high of $39.52. The stock has a market cap of $35.69 billion, a PE ratio of 13.02, a P/E/G ratio of 2.46 and a beta of 1.07. The stock has a 50 day moving average price of $35.72 and a 200 day moving average price of $34.59.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 earnings per share. On average, research 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 approved a stock buyback program on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to buy up to 28.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

HPQ has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on shares of HP from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 29th. Loop Capital decreased their price target on shares of HP from $37.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, September 5th. UBS Group increased their target price on shares of HP from $34.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, August 29th. Citigroup cut shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 target price on the stock. in a research note on Tuesday, October 1st. Finally, Bank of America lowered shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 target price on the stock. in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, HP currently has an average rating of "Hold" and an average target price of $35.55.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 3 shares of the company's stock, valued at approximately $99.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.41% of the company's stock.

About HP

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.