BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 420,161 Shares of HP Inc. (NYSE:HPQ)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 55.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in HP during the 3rd quarter worth approximately $25,000. Triad Wealth Partners LLC bought a new stake in HP during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of HP in the second quarter valued at approximately $34,000. Wolff Wiese Magana LLC grew 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 acquiring an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of HP in the third quarter valued at approximately $37,000. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares in the company, 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 is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.

HP Price Performance

Shares of NYSE:HPQ traded up $0.22 during trading on Friday, hitting $38.13. 6,961,129 shares of the company were exchanged, compared to its average volume of 6,401,251. The company has a market cap of $36.75 billion, a PE ratio of 13.38, a P/E/G ratio of 2.61 and a beta of 1.07. The stock has a 50 day moving average of $36.36 and a 200 day moving average of $35.40. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.52.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $13.37 billion. During the same quarter last year, the business posted $0.86 EPS. The company's quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts forecast that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its board has authorized a share buyback plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

HPQ has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on HP from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday. Bank of America lowered HP from a "buy" rating to a "neutral" rating and set a $37.00 target price for the company. in a report on Friday, September 27th. Morgan Stanley reduced 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. Citigroup lowered HP from a "buy" rating to a "neutral" rating and set a $37.00 price objective for the company. in a report on Tuesday, October 1st. Finally, Barclays reduced their price objective on HP from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $35.45.

HP 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.