Hewlett-Packard Co. (NYSE:HPQ) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 21,493,698 shares, a drop of 13.2% from the August 15th total of 24,756,824 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 13,899,133 shares, the days-to-cover ratio is currently 1.5 days.
Several research analysts have commented on HPQ shares. Deutsche Bank AG reissued a “buy” rating and set a $13.00 price target on shares of Hewlett-Packard in a research note on Thursday, May 26th. BMO Capital Markets reissued a “hold” rating and set a $12.00 price target on shares of Hewlett-Packard in a research note on Thursday, May 26th. Mizuho reissued a “neutral” rating and set a $12.00 price target (up from $10.00) on shares of Hewlett-Packard in a research note on Thursday, May 26th. Brean Capital reissued a “buy” rating on shares of Hewlett-Packard in a research note on Thursday, May 26th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Hewlett-Packard in a research note on Thursday, May 26th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $14.76.
Hewlett-Packard (NYSE:HPQ) opened at 14.53 on Monday. Hewlett-Packard has a 52 week low of $8.91 and a 52 week high of $14.82. The company’s 50 day moving average price is $14.33 and its 200-day moving average price is $12.92. The company has a market capitalization of $24.86 billion, a P/E ratio of 7.74 and a beta of 1.59.
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Hewlett-Packard (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Hewlett-Packard had a net margin of 5.41% and a return on equity of 106.26%. The business earned $11.89 billion during the quarter, compared to analyst estimates of $11.44 billion. During the same period in the previous year, the business posted $0.88 EPS. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts expect that Hewlett-Packard will post $1.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th will be issued a $0.124 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Monday, September 12th. Hewlett-Packard’s dividend payout ratio (DPR) is presently 26.74%.
In other Hewlett-Packard news, insider Tracy S. Keogh sold 100,000 shares of Hewlett-Packard stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $14.00, for a total transaction of $1,400,000.00. Following the transaction, the insider now directly owns 213,582 shares of the company’s stock, valued at $2,990,148. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marie Myers sold 10,269 shares of Hewlett-Packard stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $14.55, for a total transaction of $149,413.95. Following the transaction, the insider now directly owns 22,390 shares in the company, valued at $325,774.50. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zebra Capital Management LLC raised its position in Hewlett-Packard by 206.5% in the first quarter. Zebra Capital Management LLC now owns 85,994 shares of the computer maker’s stock valued at $1,059,000 after buying an additional 57,940 shares during the period. Geode Capital Management LLC raised its position in Hewlett-Packard by 5.6% in the first quarter. Geode Capital Management LLC now owns 15,103,402 shares of the computer maker’s stock valued at $185,720,000 after buying an additional 799,445 shares during the period. Wealthsource Partners LLC acquired a new position in Hewlett-Packard during the first quarter valued at approximately $175,000. Exxonmobil Investment Management Inc. TX raised its position in Hewlett-Packard by 5.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 442,791 shares of the computer maker’s stock valued at $5,557,000 after buying an additional 22,392 shares during the period. Finally, Quotient Investors LLC acquired a new position in Hewlett-Packard during the second quarter valued at approximately $630,000. 78.66% of the stock is owned by institutional investors and hedge funds.
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.
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