Banque Cantonale Vaudoise Sells 35,610 Shares of HP Inc. (NYSE:HPQ)

Banque Cantonale Vaudoise cut its holdings in shares of HP Inc. (NYSE:HPQ) by 21.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,771 shares of the computer maker’s stock after selling 35,610 shares during the quarter. Banque Cantonale Vaudoise’s holdings in HP were worth $4,619,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of HPQ. Primecap Management Co. CA grew its position in HP by 6.2% in the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after purchasing an additional 1,319,731 shares during the last quarter. Legal & General Group Plc increased its stake in HP by 11.3% in the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after acquiring an additional 1,089,848 shares during the period. Bank of New York Mellon Corp lifted its stake in HP by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock worth $294,253,000 after purchasing an additional 287,861 shares during the period. AQR Capital Management LLC boosted its holdings in HP by 4.1% during the second quarter. AQR Capital Management LLC now owns 5,359,174 shares of the computer maker’s stock valued at $186,928,000 after purchasing an additional 213,116 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in shares of HP by 4.1% in the 3rd quarter. AustralianSuper Pty Ltd now owns 4,199,076 shares of the computer maker’s stock valued at $150,621,000 after purchasing an additional 165,407 shares during the period. 77.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HPQ shares. UBS Group boosted 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. Barclays decreased their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Loop Capital cut their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. increased 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. Finally, Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.55.

Insider Activity

In related news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 3 shares in the company, valued at $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 is available through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

HP Stock Performance

HPQ opened at $36.87 on Wednesday. The stock has a fifty day moving average of $36.10 and a 200-day moving average of $35.21. The company has a market capitalization of $35.53 billion, a P/E ratio of 12.94, a P/E/G ratio of 2.51 and a beta of 1.07. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.52.

HP (NYSE:HPQ) last posted 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 company 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%. HP’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. On average, equities research analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its Board of Directors has approved a share repurchase 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 reacquire up to 28.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.