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

Banque Cantonale Vaudoise lowered its stake in HP Inc. (NYSE:HPQ - Free Report) by 21.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

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

Insider Buying and Selling

In other 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 transaction of $7,013,373.16. Following the sale, the chief executive officer now directly owns 3 shares of the company's stock, valued at approximately $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HPQ shares. UBS Group boosted their price target on shares of HP from $34.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, August 29th. Citigroup cut HP from a "buy" rating to a "neutral" rating and set a $37.00 price objective on the stock. in a report on Tuesday, October 1st. Morgan Stanley lowered their target price on HP from $37.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, August 29th. Loop Capital lowered their price objective on shares of HP from $37.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, September 5th. Finally, Barclays cut 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 report on Thursday, August 29th. 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, the stock has an average rating of "Hold" and a consensus price target of $35.45.

HP Stock Performance

Shares of HPQ stock traded down $0.17 during midday trading on Wednesday, hitting $36.70. 4,928,070 shares of the company were exchanged, compared to its average volume of 7,726,413. The firm's 50 day moving average price is $36.17 and its two-hundred day moving average price is $35.22. The firm has a market capitalization of $35.36 billion, a P/E ratio of 12.88, a PEG ratio of 2.51 and a beta of 1.07. 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 released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share 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 firm had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same period in the previous year, the business posted $0.86 earnings per share. The business's revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that HP Inc. will post 3.39 EPS for the current year.

HP announced that its board has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

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.