HP Inc. (NYSE:HPQ) Position Reduced by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise trimmed its position in HP Inc. (NYSE:HPQ) by 21.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,771 shares of the computer maker’s stock after selling 35,610 shares during the period. 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 the company. Fifth Third Wealth Advisors LLC lifted its holdings in shares of HP by 26.5% in the third quarter. Fifth Third Wealth Advisors LLC now owns 15,691 shares of the computer maker’s stock valued at $563,000 after buying an additional 3,287 shares during the period. Caprock Group LLC raised its position in HP by 74.4% in the third quarter. Caprock Group LLC now owns 146,041 shares of the computer maker’s stock worth $5,280,000 after acquiring an additional 62,323 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in HP by 12.8% in the 3rd quarter. Meeder Advisory Services Inc. now owns 16,892 shares of the computer maker’s stock valued at $606,000 after acquiring an additional 1,923 shares during the last quarter. Swiss National Bank boosted its position in shares of HP by 0.3% during the 3rd quarter. Swiss National Bank now owns 2,904,500 shares of the computer maker’s stock valued at $104,184,000 after purchasing an additional 7,400 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of HP by 10.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 64,228 shares of the computer maker’s stock worth $2,303,000 after purchasing an additional 6,299 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Performance

Shares of NYSE HPQ opened at $36.87 on Wednesday. The stock has a market cap of $35.53 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.51 and a beta of 1.07. The business has a 50 day simple moving average of $36.10 and a 200 day simple moving average of $35.21. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.52.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same quarter last year, the company earned $0.86 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has authorized a share buyback program on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to buy up to 28.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on HPQ shares. 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 lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Tuesday, October 1st. Morgan Stanley cut their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. 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, JPMorgan Chase & Co. upped their price target on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One equities 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 stock. According to MarketBeat, the company presently 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.