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

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its position in HP Inc. (NYSE:HPQ) by 55.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Chris Bulman Inc purchased a new position in HP in the second quarter worth $88,000. Principal Financial Group Inc. grew its stake in shares of HP by 16.1% during the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after buying an additional 160,268 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of HP in the second quarter worth about $621,000. Cetera Investment Advisers lifted its stake in shares of HP by 154.7% in the 1st quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker’s stock valued at $3,309,000 after acquiring an additional 66,510 shares during the last quarter. Finally, National Pension Service boosted its holdings in HP by 24.1% during the 3rd quarter. National Pension Service now owns 2,162,772 shares of the computer maker’s stock valued at $77,579,000 after acquiring an additional 419,774 shares during the period. 77.53% of the stock is owned by institutional investors.

HP Price Performance

Shares of NYSE:HPQ opened at $38.13 on Friday. The business has a fifty day moving average price of $36.36 and a 200-day moving average price of $35.35. The company has a market capitalization of $36.75 billion, a PE ratio of 13.38, a PEG ratio of 2.61 and a beta of 1.07. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.52.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (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 firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 EPS. On average, sell-side analysts anticipate that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This represents a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HPQ shares. Citigroup 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 Tuesday, October 1st. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Friday, September 27th. UBS Group boosted their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Barclays cut 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. Finally, Loop Capital dropped their target price 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. One 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 company. According to MarketBeat, HP currently has an average rating of “Hold” and a consensus target price of $35.45.

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.