Banque Pictet & Cie SA lowered its holdings in Vmware, Inc. (NYSE:VMW) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,200 shares of the virtualization software provider’s stock after selling 2,500 shares during the quarter. Banque Pictet & Cie SA’s holdings in Vmware were worth $4,062,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Investec Asset Management LTD increased its stake in Vmware by 3.0% in the second quarter. Investec Asset Management LTD now owns 2,669,142 shares of the virtualization software provider’s stock valued at $233,363,000 after acquiring an additional 78,558 shares during the period. Voya Investment Management LLC grew its stake in Vmware by 25.7% during the second quarter. Voya Investment Management LLC now owns 2,633,434 shares of the virtualization software provider’s stock worth $230,241,000 after buying an additional 538,393 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Vmware by 8.6% during the second quarter. JPMorgan Chase & Co. now owns 2,319,421 shares of the virtualization software provider’s stock worth $202,786,000 after buying an additional 184,648 shares during the last quarter. APG Asset Management N.V. grew its stake in Vmware by 302.3% during the third quarter. APG Asset Management N.V. now owns 2,044,921 shares of the virtualization software provider’s stock worth $223,285,000 after buying an additional 1,536,600 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. grew its stake in Vmware by 5.2% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,708,462 shares of the virtualization software provider’s stock worth $186,546,000 after buying an additional 84,571 shares during the last quarter. 22.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of Vmware, Inc. (VMW) traded up $0.55 during trading hours on Friday, hitting $123.26. 1,564,799 shares of the stock traded hands, compared to its average volume of 1,545,707. The firm has a market cap of $50,180.00, a PE ratio of 34.50, a PEG ratio of 2.81 and a beta of 0.67. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.10. Vmware, Inc. has a one year low of $76.81 and a one year high of $123.50.
Vmware (NYSE:VMW) last announced its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Vmware had a net margin of 17.81% and a return on equity of 18.06%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 EPS. sell-side analysts forecast that Vmware, Inc. will post 3.79 EPS for the current fiscal year.
Vmware announced that its board has approved a share buyback plan on Monday, August 14th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other Vmware news, insider P. Kevan Krysler sold 13,751 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $107.69, for a total transaction of $1,480,845.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Egon Durban sold 435,682 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total transaction of $47,624,399.42. The disclosure for this sale can be found here. Insiders have sold a total of 466,314 shares of company stock worth $51,024,652 over the last ninety days. 0.52% of the stock is currently owned by insiders.
Several analysts have weighed in on VMW shares. Zacks Investment Research raised shares of Vmware from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Monday, September 4th. Citigroup Inc. reissued a “buy” rating and set a $124.00 price target on shares of Vmware in a research note on Monday, August 28th. Berenberg Bank reissued a “hold” rating and set a $94.00 price target on shares of Vmware in a research note on Tuesday, August 29th. Jefferies Group LLC increased their price target on shares of Vmware from $121.00 to $129.00 and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, Credit Suisse Group started coverage on shares of Vmware in a research note on Tuesday, September 5th. They set an “outperform” rating and a $130.00 price target on the stock. Fifteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $116.00.
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Vmware Company Profile
VMware, Inc is an information technology (IT) company. The Company is engaged in development and application of virtualization technologies with x86 server-based computing, separating application software from the underlying hardware. The Company offers various products, which allow organizations to manage IT resources across private clouds and multi-cloud, multi-device environments by leveraging synergies across three product categories: Software-Defined Data Center (SDDC), Hybrid Cloud Computing and End-User Computing (EUC).
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