Venturi Wealth Management LLC Increases Stock Holdings in HP Inc. (NYSE:HPQ)

Venturi Wealth Management LLC increased its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 2,551.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,345 shares of the computer maker's stock after purchasing an additional 27,276 shares during the quarter. Venturi Wealth Management LLC's holdings in HP were worth $1,017,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in HP during the 3rd quarter worth $25,000. Triad Wealth Partners LLC purchased a new stake in HP in the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP during the second quarter valued at approximately $34,000. Wolff Wiese Magana LLC lifted its stake in HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker's stock worth $35,000 after acquiring an additional 518 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in HP in the third quarter worth $37,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HPQ has been the topic of several recent analyst reports. Bank of America cut HP from a "buy" rating to a "neutral" rating and set a $37.00 price objective on the stock. in a research report on Friday, September 27th. Morgan Stanley dropped their price objective on HP from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on HP from $38.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, August 23rd. Barclays cut their price objective on HP from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Thursday, August 29th. Finally, Loop Capital lowered their price target on HP from $37.00 to $35.00 and set a "hold" rating on the stock in a research 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $35.55.

HP Trading Down 1.5 %

Shares of HPQ traded down $0.56 during mid-day trading on Tuesday, hitting $37.11. 6,791,372 shares of the company traded hands, compared to its average volume of 7,770,828. The business has a 50-day moving average of $35.80 and a 200 day moving average of $34.83. HP Inc. has a one year low of $27.42 and a one year high of $39.52. The stock has a market capitalization of $35.76 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 2.52 and a beta of 1.07.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.03). The business had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. As a group, analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at HP

In related news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company's stock.

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.