BNP PARIBAS ASSET MANAGEMENT Holding S.A. Reduces Stock Holdings in HP Inc. (NYSE:HPQ)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its holdings in shares of HP Inc. (NYSE:HPQ) by 55.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 344,159 shares of the computer maker’s stock after selling 420,161 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in HP were worth $12,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in HP during the third quarter valued at approximately $25,000. Triad Wealth Partners LLC bought a new stake in shares of HP during the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP in the 2nd quarter worth $34,000. Wolff Wiese Magana LLC raised its holdings in HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in HP during the third quarter valued at about $37,000. Institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HPQ shares. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, October 1st. Barclays lowered their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. UBS Group increased their price objective on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley lowered their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. cut their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, HP currently has a consensus rating of “Hold” and a consensus target price of $35.45.

HP Trading Up 0.6 %

NYSE:HPQ opened at $38.13 on Friday. The company has a market capitalization of $36.75 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.61 and a beta of 1.07. The business’s 50-day moving average is $36.36 and its 200 day moving average is $35.35. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.52.

HP (NYSE:HPQ) last posted 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). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. During the same period last year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts forecast that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its board has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of HP 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 completion of the transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.