Jensen Investment Management Inc. decreased its stake in Hewlett-Packard Co. (NYSE:HPQ) by 3.9% during the second quarter, Holdings Channel reports. The institutional investor owned 35,090 shares of the computer maker’s stock after selling 1,420 shares during the period. Jensen Investment Management Inc.’s holdings in Hewlett-Packard were worth $440,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. raised its stake in shares of Hewlett-Packard by 25.1% in the second quarter. Cullen Frost Bankers Inc. now owns 13,710 shares of the computer maker’s stock worth $172,000 after buying an additional 2,755 shares during the period. Wealthsource Partners LLC acquired a new stake in shares of Hewlett-Packard during the first quarter worth $175,000. Quotient Investors LLC acquired a new stake in shares of Hewlett-Packard during the second quarter worth $630,000. NewSquare Capital LLC raised its stake in shares of Hewlett-Packard by 18.7% in the second quarter. NewSquare Capital LLC now owns 61,845 shares of the computer maker’s stock worth $776,000 after buying an additional 9,743 shares during the period. Finally, Zebra Capital Management LLC raised its stake in shares of Hewlett-Packard by 206.5% in the first quarter. Zebra Capital Management LLC now owns 85,994 shares of the computer maker’s stock worth $1,059,000 after buying an additional 57,940 shares during the period. Hedge funds and other institutional investors own 78.54% of the company’s stock.
Hewlett-Packard Co. (NYSE:HPQ) traded up 0.87% during mid-day trading on Thursday, reaching $15.12. The company had a trading volume of 9,938,676 shares. The company has a market capitalization of $25.87 billion, a price-to-earnings ratio of 8.05 and a beta of 1.59. Hewlett-Packard Co. has a 12-month low of $8.91 and a 12-month high of $15.17. The stock has a 50-day moving average of $14.42 and a 200 day moving average of $13.06.
Hewlett-Packard (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Hewlett-Packard had a return on equity of 106.26% and a net margin of 5.41%. The firm earned $11.89 billion during the quarter, compared to analyst estimates of $11.44 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue was down 3.8% compared to the same quarter last year. On average, analysts expect that Hewlett-Packard Co. will post $1.61 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be paid a dividend of $0.124 per share. This represents a $0.50 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Monday, September 12th. Hewlett-Packard’s dividend payout ratio (DPR) is currently 26.74%.
A number of brokerages have recently weighed in on HPQ. Mizuho restated a “neutral” rating and issued a $12.00 target price on shares of Hewlett-Packard in a research note on Thursday, June 23rd. Vetr lowered Hewlett-Packard from a “strong-buy” rating to a “buy” rating and set a $16.12 price objective for the company. in a research report on Monday. Credit Suisse Group AG reiterated a “buy” rating on shares of Hewlett-Packard in a research report on Thursday, May 26th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $12.00 price objective on shares of Hewlett-Packard in a research report on Tuesday, June 28th. Finally, Citigroup Inc. reiterated a “hold” rating on shares of Hewlett-Packard in a research report on Sunday, May 29th. Eighteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $14.76.
In other news, insider Marie Myers sold 10,269 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $14.55, for a total value of $149,413.95. Following the completion of the sale, the insider now owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Tracy S. Keogh sold 100,000 shares of the business’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $14.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider now directly owns 213,582 shares of the company’s stock, valued at approximately $2,990,148. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
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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